You need to email corporate actions at IG and inform them that you wish to take up your rights issue. You will of course need to have sufficient funds in your account to cover the cost at 1.07 euro per share. It would appear by relatively low drop in TUI share price that the rights issue price is very reasonable however you should do your own research.
Please see email I received ftom IG re this issue;
TUI AG recently announced plans to raise cash from existing investors through a rights issue trading period, which will come into effect on 12 January 2021.This will give you the chance to buy new shares for the reduced price of €1.07 until our deadline date – (TBD). You'll receive an email clarifying this date within the next five working days. You’ll be able to subscribe to 25 new shares for every 29 you currently hold.This offer has implications if you have either long or short positions on the ex-date of 8 January 2021 – learn how to get your preferred outcome below.
You have a number of options depending on the original trade on your account.If you have a long rights position, you can:
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Take up the rights issue by replying to this email (corporate.actions@ig.com) before the IG deadline, quoting your account ID and stating your wish to take up the rights
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Take no action and let the rights lapse - this is IG’s default option for clients
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Trade out of the rights by closing your position on the online platform by our deadline (TBC)
If you have a short rights position, you can:
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Buy the rights back by closing your short position, before our deadline (TBC), on the online platform during the rights trading period
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Take no action. This will risk your rights being taken up automatically, depending on the result of the offer. This means that you may have a new short position opened on your account at the subscription price under the terms of the offer
You’ll need to make your decision by our deadline (TBC) – otherwise your entitlement will lapse by default. If you hold rights on multiple accounts, please reply to this email and state the relevant account IDs on which you wish to take up the rights. You'll also need to do this if your ISA is at the maximum allowance – please confirm that you'd like the new shares transferred to your share dealing account.If you hold shares in a share dealing or ISA account, please ensure the relevant one is adequately funded with settled cash before the IG deadline date and maintained beyond 29 January 2021 – when the new shares will be expected to be booked on your account – or this election will lapse by default.All positions with guaranteed stops will be closed at the final price on the day before the ex-date. We'll open a new position to automatically take up the above offer at an adjusted level and size. The monetary risk of the trade will remain the same. We'll also remove all working orders on TUI AG before the market opens on the ex-date.
