Question
Amidst the pandemic around the world, every business has negatively impacted. Especially airlines company and airports due to flying restrictions. Sydney Airport has been making
Amidst the pandemic around the world, every business has negatively impacted. Especially airlines company and airports due to flying restrictions. Sydney Airport has been making losses for this year due to the drop of 90% revenue growth, however, on Tuesday 11th August 2020, SYD announced that it would raise $2 billion in new equity by announcing a 1 for 5.15 pro rata accelerated renounceable offer of new stapled securities (New Securities) at an issue price of $4.56 (Offer Price) per New Security.
What kind of risks may be associated by this increase of equity taking the current pandemic issue we have into consideration? and what substantive tests can be done for the risks mentioned?
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