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Lumia mobile plans a rights issue at $30 a share of one new share for every two shares held . Before the issue there were 10 million shares outstanding and the share price was $50. Unfortunately , investors did not like the decision and the price of Lumia ‘s shares went down by 10% . What was the prospective stock price after the issue? What was the value of one right to buy new shares?

Basic Finance, Finance

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