1.   Thus subscription prices were shooting up and cutting off thousands of readers who could no longer afford them.

2.   The tender offer involves an offer to the public to bid for the shares but with a minimum subscription price.

3.   Given the risk associated with the possibility that the market price may fall below the subscription price the timing of a rights issue is extremely important.

4.   This is to treat the right as a call option which confers the right to purchase the share at an exercise price equal to the subscription price.

5.   This will be partially or totally compensated by the underwriting fees F, and the return may be expressed as a percentage of the subscription price as follows,.

6.   Each year the proceedings of the BSP symposium are published as an extra issue, which is included in the subscription price.

7.   As far as the company is concerned, the excess of the purchase price over the subscription price for the original shares will be treated as a distribution.

8.   At the same time, the online service in July will begin offering lower subscription prices, a strategy that triggered the stock fall in early May.

9.   Ad sales help keep subscription prices down and subsidize free magazines.