Last day of dealings in nil-paid
Rights Shares is expected to be 15 February 2018, before Chinese New Year.
Bank stocks were once again the biggest burden of the day with Bank of Cyprus shedding 1.28% to 53.8 cents, taking the share 11.8% lower on the year, while its nil-paid
rights crashed 24% to 1.6c.
Friday was the first day of dealing in Lloyds Banking Group nil-paid
Buying up the nil-paid
rights cheaply would help "short" investors to cover their losses if there is a rapid recovery in HBOS's share price, because the value of the rights would also increase.
If you don't want to buy the new shares you can sell on the rights - these are known as "nil-paid
In fact, China Trends allotted four nil-paid
rights share for every one share held by the qualifying shareholders in late-June and raised approximately HK$135 million beforeexpenses by way of the Rights Issue of 3,374,958,000 rights shares at a subscription price of HK$0.04 per rights share, which is the strategy to further strengthen the CEM business.
rights" - the right to buy the new discounted shares - will begin trading on the London Stock Exchange from June 27.
The prospectus for RBS's rights issue, issued late on Wednesday, said dealings in nil-paid
new shares would start on May 15, which allows investors to sell their "rights" to new shares.
On 28 April 2010, the Group announced that it proposed to issue a total of 3,374,958,000 rights shares by way of rights issue at a subscription price of HK$0.04 per rights share on the basis of four nil-paid
rights shares for every existing share held.
On the stock market, the existing shares, including those created for the new subscription, started trading ex-rights, changing hands around 22 1 /2p last week, within 1p of their peak price for the year, while the nil-paid
rights were quoted separately.
With any ordinary luck, the discount also gives those shareholders who feel disinclined to sign a cheque, the chance to pick up a little cash by selling their rights nil-paid