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Open Rip-offers, 11-Oct-1999
Eel-feed maker Corasia Group has announced an open offer of 1 new share for every share held, at a 76% discount to the previous price. We explain why deep-discount open offers should be banned because they force shareholders to either pay up or lose value. Unlike rights issues, you cannot just sell your entitlements to recover the bonus issue which is hidden in the offer. Meanwhile, independent shareholders of Corasia should vote against the offer.



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