A pre-emptive right is a right conferring to existing shareholders to subscribe for shares under the specific price and time. Generally the subscribing price for the said shares is lower than their marketable price, with this reason the said right becomes the priceable right. Whenever the existing shareholders don’t desire to employ their said right, they should gain the benefit from sale and transfer of their pre-emptive rights to other persons, but there is no existing laws to support the said right and transfer. The research in this thesis verifies that the pre-emptive right of the existing shareholders have been proceeded with between the company and them until enterring into the agreement which causes the assignment. This assignment can apply with the transfer of right to subscribe for shares in case of capital increase which the said transfer does not violate the company law. By this mean, the right can be converted into one kind of security called “a warrant on shares” which its method is usable for the said transfer.
