Ann: MSB Enters Into Cardiovascular Alliance For China With Tasly, page-120

"By it's very nature issuing of shares at a premium is accretive, issuing at a discount is dilutive."

If your definition of "accretive" relates to the last-traded share price then, yes, issuing stock at a higher price than the last traded price, is ...uh... accretive.

But if your definition of "accretive" relates to the fundamental valuation of the business, then issuing stock at a lower price is - axiomatically - not value accretive.

And, with little doubt, from a shareholder value standpoint, the reference price that matters is the fundamental valuation of the business, and not the market's arbitrary value of it.

But don't just take my word for it; any valuation theory textbook will say the same thing.