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Re: [sharechat] Kiwi Income Rights

From:	"Malcolm Cameron" <malharcameron@hotmail.com>
Date:	Thu, 04 Jul 2002 13:53:46 +1000

Peter Remember it goes ex a very large dividend at the same time


>From: "Peter Riches" <peter@kairos.ws>
>Reply-To: sharechat@sharechat.co.nz
>To: <sharechat@sharechat.co.nz>
>Subject: [sharechat] Kiwi Income Rights
>Date: Thu, 4 Jul 2002 12:44:07 +1200
>
>Greetings share-chatters
>
>Can anyone explain the maths involved in the current KIP rights issue:
>1 rights issue for every 6 units held
>Subscription price = 82 cents
>Rights are trading at about 6.5 cents
>Head share is trading at 96 cents
>
>Why are the rights trading at 6.5 cents - does this imply that the market 
>expects the ordinary unit price to drop to around 89 cents once the rights 
>cease trading? Is this a premium or discount to the theoretical price?
>
>Thanks in advance
>
>Peter






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