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Pearl Developments has 3,000,000 shares outstanding. Current market value is 4.50 per share. The firm wishes to raise 6.075 million, and it plans a rights

Pearl Developments has 3,000,000 shares outstanding. Current market value is €4.50 per share. The firm wishes to raise €6.075 million, and it plans a rights issue. The offer price will be €4.05 per share. 


Calculate the value per share of this right issue. You can assume there will be 100% subscription.

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