Wednesday, October 3, 2012

Interra resources: rights issue update

Previously, I mentioned that I was applying the interra resource rights issue. The rights issue results are as follows:

It seems that many people are going for a quick buck in this rights issue. We see a 193.4% applying for the rights issue. After all, each excess lot allocated would mean an extra $200 pocket money. The rights shares last traded at $0.23 before it stop trading.

As usual, there are some who did not apply at all. The 6.2% who did not apply made up about 9 million units. I always wonder who are these people who give up on the rights issue without even selling the rights shares. Perhaps there may be some POSB/DBS unit holders who did not have a UOB or OCBC bank account to make the application.

The rights issue has concluded and the newly converted units started trading today. In the last few week, interra resources also went up by quite a bit. Looks like I will be taking profit on this one soon. =)

Related posts:
Lessons learnt from the recent interra resources rights issue

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