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And remaining small shareholders are being offered the opportunity to subscribe for shares in the company again, at a discount of 20 per cent to the Davy valuation.

Members must apply by Tuesday if they wish to subscribe for additional shares.

There are already investors, mainly Greek companies, willing to subscribe for shares of the new issue.

We had to explain the publish and subscribe model.

About 89.3 per cent of existing Hutchison shareholders exercised their options to subscribe for HTIL preference shares.