Discussion of block buying and choice of issue method in UK seasoned equity offers.

Research output: Contribution to journalComment/debatepeer-review

1 Citation (Scopus)

Abstract

In an exploratory study, Armitage (2010) investigates the ultimate buyers of UK
seasoned equity offers. Although pre-emptive rights are enshrined in company law
and provide a source of value to existing shareholders, a sizeable proportion of newly offered equity is not taken up by rights holders. With an extensive manually collected database, Armitage (2010) considers the underlying reasons driving this free transfer of valuable rights, and discusses the efficacy of alternative offer methods in meeting the needs of a corporation’smain stakeholders – that is, itsmanagement and shareholders.
Original languageEnglish
Pages (from-to)449-455
Number of pages7
JournalJournal of Business Finance and Accounting
Volume37
Issue number3
Early online date10 May 2010
DOIs
Publication statusPublished - 10 May 2010

Keywords

  • seasoned equity offer
  • open offers
  • placings
  • rights issues
  • blockholdings

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