A benefit distribution in which existing shareholders are offered an entitlement to purchase shares in proportion to their shareholdings as at record date.
Entitles shareholders to buy shares in proportion to existing entitlements, but this right is not transferable.... more on: Open offer
Used by a Company to raise extra finance. Shareholders are given the opportunity to purchase extra shares to add to their existing holdings. You cannot sell your entitlement under an Open Offer as you can a Rights Issue.
an arrangement under which a company invites its shareholders to subscribe for shares subject to a minimum entitlement based on their existing shareholdings
SIS x-clear AG offers to step, as Central Counterparty, into a trade that results from stock exchange orders matched at virt-x between members or NCMs respectively.
An offer to current holders of securities to subscribe for securities whether or not in proportion to their existing holdings.
An invitation to existing holders of securities to purchase or subscribe for securities in proportion to their existing holdings but which is not made by means of a renounceable letter
Often accompanies additional share placings by quoted companies and gives the right to claw back shares, usually at below the market price, that have been placed with instructions.
An issue of shares by a company for cash to existing shareholders on a basis pro rata to existing shareholdings. It is similar to a Rights Issue. However, the key difference is that the right to subscribe for shares in an open offer is not renounceable, i.e. it cannot be sold on to another investor. In a rights issue, the investor can if he wishes sell the right to subscribe for the shares to another investor.
Offer to shareholder where they can apply to increase the allocation made to them but offer to buy the rights not taken up by others