Pharmagen Ltd is undertaking major research and development and is making a rights issue to raise the
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Question:
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 R111.00-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 R90.00 per share.
What is the expected ex-right price?
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