Question 15 Eri plc has announced a rights issue to raise 56m for a new building project. The building will have 60 offices and will each be rented for 1400/month. The equity of Eri plc sells for 26/share and there are 7.6 million shares outstanding. 1) If the subscription price is set at 16/share, how many rights will it take to buy one new share? (5 marks) a. Approx. 3.52 rights b. Approx. 2.17 rights c. Approx. 2.43 rights d. Approx. 5 rights 2) What is the ex-rights price of one share? (5 marks) a. 21.18 b. 23.78 22.85 d. 4.14