rights issue is 2 for 25 shares held ... an extra 194 million shares...
from this we have 2,425 million current shares plus 194 million shares = 2,619 million shares
currently 2,245 @ $35 a share = $84,875 million
rights issue 194 @ $28.50 share = $5,529 million
= $( 84,875 + 5529 ) divided by ( 2,245 + 194 ) shares = average price of $34.52
brokers may see it as 2/25 rights being 8% or 8% reduction in share price = $35 x92/100 = $32.20
so if it does fall to $32.20 there is an arbitrage of $2.32...
just my opinion
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| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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| 3 | 30856 | $36.50 |
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