Last day of dealings in nil-paid
Rights Shares is expected to be 15 February 2018, before Chinese New Year.
SOCPL), has bought 9,500,000 nil-paid
ordinary stock of Deltatek Offshore Limited (DOL) with nominal value of $0.
8% lower on the year, while its nil-paid
rights crashed 24% to 1.
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.
Buying the nil-paid rights at a higher price is a gamble, however because if HBOS's share price stays below 275p, the rights will expire as worthless on July 18.
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.
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.
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