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High Mountain Mining wants to expand its current operations and requires RM 3.5 million in additional funding to do so. After discussing this with key shareholders, the firm has decided to raise the necessary funds through a rights offering at a subscription price of RM18 a share. The current market price of the firm's stock is RM 22 a share. How many shares of stock will the firm need to sell through the rights offering to fund the expansion plans?

Reference no: EM132373581

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