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Reference Price for Capital Reduction
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The information provided below is available since 2013/01.

Formula:

  1. Cash refund: Post-Reduction Reference Price = (Closing price on last trading date - Return of capital per share)/(Share ratio of post-reduction to pre-reduction)
  2. Making up losses: Post-Reduction Reference Price = (Closing price on last trading date)/(Share ratio of post-reduction to pre-reduction)
  3. Capital reduction to make up losses and capital increase:
    Post-Reduction Reference Price = (Closing price on last trading date)/(Share ratio of post-reduction to pre-reduction)
    Cash capital increase ex-right reference price post reduction = (Post-Reduction Reference Price + Subscription price per share * Subscription ratio to new shares issued after capital reduction)/(1 + Subscription ratio to new shares issued after capital reduction)