Solved: How much money can get by selling the rights, Accounting Standards

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How much money can get by selling the rights

Selling Rights

Response to the following problem:

Wuttke plc wants to raise £3.65 million via a rights issue. The company currently has 490,000 ordinary shares outstanding that sell for £30 per share. Its underwriter has set a subscription price of £22 per share and will charge Wuttke a 6 per cent spread. If you currently own 6,000 shares of equity in the company and decide not to participate in the rights issue, how much money can you get by selling your rights?

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Accounting Standards: How much money can get by selling the rights

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