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#유상증자 2 posts

Rights Offering Ex-Rights Price: The Two-Number Formula

The theoretical ex-rights drop in a Korean shareholder-allocation rights offering equals allocation ratio × discount rate ÷ (1 + allocation ratio). Samsung Biologics' terms — 0.039 and 15% — produce 0.57%.

EconomicsAug 28, 20266 min

Korea's Third-Party Share Issues: The 10% Cap and Dilution Math

A third-party allotment can price new shares no more than 10% below the reference price — the tightest cap of the three methods, yet the only one existing shareholders cannot claw back. Here is the arithmetic on a 2 million share issue.

EconomicsAug 1, 20266 min