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Corporate Actions - A Concise Guide: An introduction to securities events by Francis Groves

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1. Defining Corporate Actions

Investors may focus mainly on the purchase of securities and their re-sale but equities and debt securities are more than passive tokens of investment value. By means of corporate actions they acquire a life of their own, an ability to transform themselves and to make investors change their minds. Individual corporate actions for equities such as takeover bids or rights issues can have a significant effect on share prices. Over just a few years, the cumulative effect of a number of corporate actions can cause a share to undergo a complete metamorphosis.

The starting point of all corporate actions is the ownership of individual units of investment; shares, bonds or variations. For shares of common stock, the type ...

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