Moullierat Mfg. is considering a rights offer. The company has determined that the ex-rights price will be
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Moullierat Mfg. is considering a rights offer. The company has determined that the ex-rights price will be $95. The current price is $102 per share, and there are 24 million shares outstanding. The rights offer would raise a total of $60 million.
What is the subscription price?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Related Book For
Fundamentals of corporate finance
ISBN: 978-0078034633
10th edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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