Spire plc is raising funds for expansion through a rights issue. Spire plc’s shares have a nominal value of £1 and a mar

[answerhappygod]

Spire plc is raising funds for expansion through a rights
issue. Spire
plc’s shares have a nominal value of £1 and a
market value of £2.90. In the issue,
one new share will be issued for every three shares at a price of
£2.30.
What is the theoretical ex-rights price of a share?
a.
£1.33
b.
£2.75
c.
£3.67
d.
£11.00