DVP 4.22% $2.27 develop global limited

Sorry if this is a dumb question but I am still learning.Why is...

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    Sorry if this is a dumb question but I am still learning.
    Why is 63.5c now equivalent to 75c pre ex date? Is it because the shares are diluted now that there are more on the register after the entitlement? Does it matter that they are not trading on the market until 20th July?
 
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