Rights Renunciation is the act of a shareholder choosing not to exercise their entitlement in a Rights Issue—where existing shareholders are offered new shares at a discounted price in proportion to their existing holdings. Instead of subscribing to the new shares, the shareholder can renounce (sell or transfer) their rights entitlement to another party, either on the open market or through a private transaction. Rights renunciation allows shareholders who do not wish to invest additional capital to monetise the value of the rights before the offer closes.
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