Question: A&b&c&d with clear steps please Pharmagen Ltd is undertaking major research and development and is making a rights issue to raise the required financing. The

A&b&c&d with clear steps please Pharmagen Ltd is undertaking major research

A&b&c&d with clear steps please

Pharmagen Ltd is undertaking major research and development and is making a rights issue to raise the required financing. The company has currently 30 million shares in issue. The company needs to raise R42 million. The share price has been trading within a range of R11.00-R15.00 in the last year, but the latest quoted price is R12.00 per share. The subscription price for the rights issue will be R9.00 per share. Required: a) How many shares will the company issue? b) How many shares will a shareholder need to hold to acquire one right? c) What is the expected ex-rights price? d) What the value of a right

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