A technical question:
Idorsia is about to perform a capital increase. Media release is here. Shareholders are allowed to execute subscription rights.
What is a bit confusing for me is that (quote) “the offer price for the new shares and the final number of new shares to be issued will be determined following a bookbuilding process for the shares not taken up by existing shareholders.”
Shouldn’t the offer price of the new shares not always be known in advance?
How can a shareholder be expected to buy additional shares without knowing the price?
Maybe somebody here in the forum knows and can enlighten me.