Shares of the software giant and European Dividend Aristocrat AVEVA Group plc (GB00BBG9VN75 ) fell 20% today after the company’s shares from the rights issue triggering the drop in its share price.
The FTSE 100-listed software firm announced on November 6th a £2.84 billion ($3.73 billion) rights issue to fund its $5 billion acquisition of SoftBank-backed rival OSIsoft, which would see the company issue 125.739 million new ordinary shares.
Investors can buy seven new shares for every nine they own at £22.55 each.
The current annual dividend yield is just above 1.0%.
