These figures represent an immediate accretion in net tangible book value per Ordinary Share to existing investors

[Alex15]

Контекст:

After giving effect to the issuance of the newly issued Ordinary Shares as if such Ordinary Shares were issued on 31 March 2006, and after deducting the underwriting fees and approximate offering expenses payable by the Company as of such date, the Company’s net tangible book value as of 31 March 2006 would have been RUB · million, and its net tangible book value per Ordinary Share would have been RUB ·. These calculations assume:
· An offer price of · per Ordinary Share; and
· An exchange rate of RUB 27.76 per USD, which was the official exchange rate quoted by the CBR on 31 March 2006.

These figures represent an immediate accretion in net tangible book value per Ordinary Share to existing investors, and an immediate dilution in net tangible book value per Ordinary Share to investors purchasing Securities in the Global Offering, of RUB ·, or ·%, in each case assuming a ratio of · Ordinary Shares per GDR.

Как я понимаю, речь идет о непосредственном (?) увеличении чистой балансовой стоимости материальных активов Компании для существующих инвесторов. Меня смущает слово "accretion".

[V]

рост
повышение
приращение

[Irisha]

Алекс, здесь важно понять, что net tangible book value - это то, что акционер, сможет (вернее, мог бы) получить при ликвидации компании из расчета БАЛАНСОВОЙ стоимости ее материальных активов (как видно из формулировки, стоимость нематериальных активов вычитается), и все пойдет как по маслу. :-).

[Alex16]

Спасибо!