A purchase right (Swedish: inköpsrätt) is a right given to the shareholders of one company to buy shares in another company, often a subsidiary, at a predetermined price. They are used, for example, in a spin-off. They resemble subscription rights, but concern shares that already exist.
Since the shares already exist, this is a transfer of shares, not a share issue. When the right is exercised, the buyer must be entered as the new owner in the other company's share ledger.

A spin-off means that part of a company, often a subsidiary, becomes an independent company of its own.
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A subscription right is the right to subscribe for new shares in a rights issue.
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A transfer of shares means shares change owner, for example through a sale, gift or inheritance.
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A subsidiary is a company controlled by another company, the parent company.
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