Multiple Choice
High Voltage plc has 1 million ordinary shares with a nominal value of 50 pence and a market value of £4.00 each.The company makes a rights issue,offering existing shareholders one share for every 5 they already hold at a price of £3.50.After the rights issue,what is the theoretical value of the shares?
A) £3.50
B) £3.92
C) £4.70
D) £3.96
Correct Answer:
Verified
Correct Answer:
Verified
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