Which of the following about a share placement is NOT correct?

Select one: a. Compared to a pro-rata rights offer, a placement does not dilute the proportion of ownership by existing shareholders. b. Placements may be made directly with institutions without the need to lodge a full prospectus. c. The discount to the current market price may be less for a placement when compared to a pro-rata rights issue. d. A placement is the issue of new shares to selected institutional investors. e. A placement may be arranged more quickly than a pro-rata rights offer