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What is the theoretical ex-rights price for the rights

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Question - XYZ Ltd has earnings after tax of $945000 for the year ended 30 June 2021. At the beginning of the period, XYZ had 271000 fully paid ordinary shares on issue. On 30 December 2020 the company made a 1-for-4 rights issue at a subscription price of $0.57 for each share. The last cum rights share price immediately prior to the rights issue was $1.35 each. What is the theoretical ex-rights price for the rights issue in accordance to AASB 133?

Reference no: EM133104470

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