Question
Milne Mfg. is considering a rights offer. The company has determined that the ex-rights price would be $101. The current price is $110 per share,
Milne Mfg. is considering a rights offer. The company has determined that the ex-rights price would be $101. The current price is $110 per share, and there are 21 million shares outstanding. The rights offer would raise a total of $70 million.
What is the subscription price? (Round the final answer to 2 decimal places. Do not use $ sign)
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Financial Management Principles And Applications
Authors: Arthur J. Keown, J. William Petty, John D. Martin, Jr. Scott, David F.
10th Edition
0131450654, 9780131450653
