LMIR mother shares at closing: $0.365
LMIR rights at closing: $0.026
Estimated post-rights yield: $0.0326
Mother shares CD: $0.0106 (xd will appear tomorrow on 16 Nov 2011)
By doing a simple calculation, (0.365-0.0106)-(0.31+0.026) = 0.0184.
It is actually more worth it to get the right shares instead. (Of course this exclude transaction cost.)
The interesting thing will come tomorrow where mother share goes xd.
Theoretically, mother share will become 0.365-0.0106 = 0.3544 (most of the time, the price will drop more than divy, thus I guess it will become lower to around 0.345)
How will the right share react?
Disclaimer: The below is solely my guess.
If mother share drop by 1 cent, will right share drop even more? The lowest today is 0.02. My guess it might drop below 0.02. If it ......