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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » How to Apply for Rights Issues

How to Apply for Rights Issues

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1How to Apply for Rights Issues Empty How to Apply for Rights Issues Tue Aug 02, 2011 3:57 pm

dewminigamlath


Manager - Equity Analytics
Manager - Equity Analytics
Can someone please explain the procedure for applying for rights issues...?
-where to apply
-how and when to pay
-when the shares are allocated

2How to Apply for Rights Issues Empty Re: How to Apply for Rights Issues Tue Aug 02, 2011 4:07 pm

dewminigamlath


Manager - Equity Analytics
Manager - Equity Analytics
Further, I want to know whether anyone not holding a company's shares can apply for a rights issue...?
If so, what is the meaning of XR date (like XD date in dividend payments)...?

3How to Apply for Rights Issues Empty Re: How to Apply for Rights Issues Tue Aug 02, 2011 9:52 pm

windi5

windi5
Moderator
Moderator
Just consult your lovely broker,if he not busy he will tell something. Very Happy

4How to Apply for Rights Issues Empty Re: How to Apply for Rights Issues Tue Aug 02, 2011 9:56 pm

dinusl

dinusl
Co-Admin
Once company announce for their rights issue that company will sent you an mail with the application is attached to rights issue so you can do it that way...If you submit that application to your broker he'll take care of the other things you can pay by deduct money from CDS account .

If your non share holder but still want to buy rights then you should have to wait until that company rights will list on the market like example NHL.R0000 (Any symbol starts with R after the dot will be rights) When it's converting you have to pay.

5How to Apply for Rights Issues Empty Re: How to Apply for Rights Issues Tue Aug 02, 2011 9:58 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@dewminigamlath wrote:Further, I want to know whether anyone not holding a company's shares can apply for a rights issue...?
If so, what is the meaning of XR date (like XD date in dividend payments)...?

You can't apply if you don't have the shares, if you have u can apply for additional shares, if you bought on XD you are not entitled to rights

6How to Apply for Rights Issues Empty Re: How to Apply for Rights Issues Thu Aug 18, 2011 8:05 pm

dewminigamlath


Manager - Equity Analytics
Manager - Equity Analytics
This is about CRL rights issue. One of my friends has bought 1000 @ 1.70 without knowing that it expires today. Since he could not sell them today, will he have to pay for them @ Rs.50 or can he just dispose the rights without converting (bearing the loss)...?

7How to Apply for Rights Issues Empty Re: How to Apply for Rights Issues Thu Aug 18, 2011 8:22 pm

rijayasooriya

rijayasooriya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@dewminigamlath wrote:This is about CRL rights issue. One of my friends has bought 1000 @ 1.70 without knowing that it expires today. Since he could not sell them today, will he have to pay for them @ Rs.50 or can he just dispose the rights without converting (bearing the loss)...?

Of course he can.If he is willing to bear loss just forget about it but remember the lesson.

8How to Apply for Rights Issues Empty Re: How to Apply for Rights Issues Thu Aug 18, 2011 10:04 pm

dewminigamlath


Manager - Equity Analytics
Manager - Equity Analytics
Thanks rijayasooriya.

Related to my last post;

If he decides to convert the rights into normal shares, he has to pay @ Rs.50. But, after that, will CRL price drop further or just stay on current level (since it already fell after the announcement of rights issue)...?

9How to Apply for Rights Issues Empty Re: How to Apply for Rights Issues Thu Aug 18, 2011 10:22 pm

rijayasooriya

rijayasooriya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@dewminigamlath wrote:Thanks rijayasooriya.

Related to my last post;

If he decides to convert the rights into normal shares, he has to pay @ Rs.50. But, after that, will CRL price drop further or just stay on current level (since it already fell after the announcement of rights issue)...?

That depends brother.After right issue usually there is a selling pressure.So price may go down or become stagnant.But it can go up also.I am not familiar with CRL.

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