Tegningsrettsemisjon

Tegningsrettsemisjon, also known as a rights issue, is a method by which a company can raise capital by offering existing shareholders the right to purchase new shares in the company. These new shares are typically offered at a discount to the current market price. The primary purpose is to provide existing shareholders with an opportunity to maintain their proportional ownership in the company and avoid dilution.

Shareholders receive rights, often in the form of warrants or certificates, that entitle them to buy a certain number of new shares for every share they already hold. These rights themselves can be traded on the stock market, allowing shareholders who do not wish to purchase additional shares to sell their rights to other investors. The exercise period for these rights is limited, after which any unexercised rights expire.

Tegningsrettsemisjoner are a common practice for companies needing to fund expansion, pay down debt, or finance new projects. They can be a more favorable option than other forms of equity financing as they leverage the existing shareholder base and can be perceived as less dilutive than a general offering to new investors. The terms of the rights issue, including the subscription price and ratio, are determined by the company's board of directors and must be approved by shareholders.