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Privilege granted shareholders of a corporation to subscribe to shares of a new issue of common stock before it is offered to the public. Such a right, which normally has a life of two to four weeks, is freely transferable and entitles the holder to buy the new common stock below the public offering price. See: Warrant.

Rights Offering

In stock, the ability of a shareholder to maintain the same percentage of ownership in a company should the company issue more stock by buying a proportional number of shares at or below the market price. This protects the investor from devaluation of his/her shares if the company decides to hold a round of financing. The purchase of this proportional number of shares usually takes place before the new issue is offered to the secondary market, and must be exercised before a certain date (known as the expiration date) if the shareholder is to maintain the same percentage of ownership. Rights offerings or issues are also called subscription rights or simply rights. See also: Anti-dilution provision.


A certificate that permits the owner to purchase a certain number of shares, or, frequently, a fractional share of new stock from the issuer at a specific price. Rights are issued to existing stockholders in proportion to the number of shares the stockholders already own. Rights then may be combined with cash to purchase the new shares or they may be sold to other investors. Rights usually have value because they permit the owner to purchase shares of stock at less than the market price. A right is indicated in stock transaction tables by the symbol rt, appearing after the stock's name. Also called stock right, subscription right. See also ex-rights, preemptive right.
Should rights be sold or used?

Rights offerings refer to the right of an investor to maintain his or her percentage ownership in a company when the company decides to issue new stock. Generally the company will do so at a discount to its market price to attract buyers, thus the existing stockholders' rights have value. The decision a rights holder must make is whether to put more money into the stock of this company or to sell the rights in the open market as compensation for the dilution of his or her percentage ownership in the company. TIP: Such a purchase depends completely on the individual's circumstances, goals, prejudices, and objectives—just as in any other stock purchase—and should be approached accordingly.

Thomas J. McAllister, CFP, McAllister Financial Planning, Carmel, IN


The opportunity a corporation gives a shareholder to buy additional shares at a special price for a limited time. Shareholders who don't use their rights can sell them to other investors.
References in periodicals archive ?
Ramuni's friends claimed that taking into account the area and the way that the murder was committed, ultra right-winger Jews are behind the assassination.
Cast your mind back, McClaren never had a genuine right-winger during his reign.
Waterloo mounted a revival with a try by right-winger Neil Kerfoot, who found a gaping hole in the Stour defence, the conversion and second penalty by Lynch before Freeman's pace earned his second touchdown.
Benitez wants to spend the cash on a right-winger, moving out Jermaine Pennant if he gets the right offer, but he does not have unlimited funds.
Failing to land a right-winger might have saved Rafa a few tricky decisions.
MAJOR FORCE: Willie Humphries (left), a right-winger of mesmerising skill and capped by Ireland is pictured with three City players who also won international recognition in the same week in November 1964, Ronnie Rees (Wales), John Burckitt (England Youth) and Bill Glazier (England Under-23)
In the 1-1 first-leg draw at the Philips Stadion, Bernard had to contend with the diving antics of Eindhoven's South Korean right-winger Ji-Sung Park.
Yet he polled over 60 percent in [conservative stronghold Orange County], stomping the [day-lights] out of right-winger Tom McClintock.
So the Austrian bid should be kicked out of play for its association with an extreme right-winger
In the first quarter Grayshon had kicked two penalties, Will Morgan replied with one for Walsall, then Morley right-winger Chris Hall scored a try on an overlap.
BOLTON boss Sammy Lee wants to snap up Turkish right-winger Gokdeniz Karadeniz on loan - but has been told to pay pounds 3million for him.
If the Egyptian-born, anti-Semitic cleric is a ``progressive figure,'' then Red Ken is a right-winger.