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- W2123258498 abstract "The paper describes selling and underwriting procedures in rights issues and open offers, and analyses the costs of issue reported in prospectuses, including the substantial costs which are not for underwriting. The impression is often given that costs are fixed at 2% of gross proceeds, but they vary and average 5.78% (median 4.28%). Controlling for economies of scale and fees not related to the issue, costs increase with the proportion of the issue underwritten and with the depth of discount, and decrease with the proportion of the company owned by large shareholders." @default.
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- W2123258498 date "2000-05-29" @default.
- W2123258498 modified "2023-09-28" @default.
- W2123258498 title "The Direct Costs of UK Rights Issues and Open Offers" @default.
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