Quite a few readers have asked that I do a piece on SIA. And it’s a really interesting topic, so I was happy to oblige.

A reader also helpfully sent across the following questions, which we’ll use as the framework for discussion today:

1) Some interpretation about the complex structure Rights + MCB

2) The valuation of SIA after the rights/MCB?

3) Your recommendations to FH followers on SIA – whether we should subscribe to entitlement or even excess rights?

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1) Breaking down the Rights Issue and MCBs

All of the relevant