Tarjousmerkintöjen

Tarjousmerkintöjen, often translated as subscription rights or subscription notes, are a financial instrument that arises during a company's issuance of new shares or other securities. These rights typically allow existing shareholders to purchase a predetermined number of new shares at a specified price, often at a discount to the current market price. The purpose of offering these rights is to provide existing shareholders with an opportunity to maintain their proportional ownership in the company and to raise capital from a familiar investor base.

The process usually begins with the company announcing a rights issue. This announcement details the terms of the offering, including the subscription ratio (how many new shares can be bought per existing share), the subscription price, and the period during which the rights can be exercised. Holders of the original shares receive "tarjousmerkintöjen," which are essentially certificates or notifications representing these subscription rights.

Shareholders have several options once they receive their tarjousmerkintöjen. They can choose to exercise their rights by purchasing the new shares. Alternatively, they may sell their rights on the open market if the rights themselves are traded separately. If the rights are not exercised or sold within the specified timeframe, they typically expire worthless. The issuance of tarjousmerkintöjen is a common method for companies to raise equity capital while also aiming to minimize dilution for their existing shareholders.