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As of Friday’s (March 8) close, Techbase’s share price stood at 25 sen which is its post-ex-rights’ price.
For investors holding the mother shares, the ICULS comes at a cost of 5 sen. Given the conversion price of 15 sen for the ICULS, this presents a significant arbitrage opportunity where the cost of converting to mother share is just 20 sen.
A lot of people don't know what LR is, very simple. LR means Loan Stock Rights, you (investor) can buy LR and invest into techbase loan stock issuance.
For example, if you buy techbase-LR, then you are entitled to invest in techbase rights issue. But why techbase rights issue is good? 5 cents per share, but mother is now 25 cents, means for every loan stock you have, got +100% potential!
That's right, it's very worthwhile. By the way, you can get 5 of this LR for every 1 existing ordinary share of Techbase that holds after subscribed it