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Caren Holdings wishes to raise $60 million through a rights issue at a subscription price of $3 per share and it currently has 120 million

Caren Holdings wishes to raise $60 million through a rights issue at a subscription price of $3 per share and it currently has 120 million shares on issue. How many shares will be required by a shareholder to be currently held in order to purchase a new share in the Caren Holdings rights issue?

Group of answer choices

4

$60 Million

none of the given answers

6

3

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