nOObmasta, did those other companies do a SPP or a rights issue? If a rights issue it can be any amount but must be accompanied by a prospectus that takes time and money to prepare.
For a SPP the maximum is $15,000 and the company total of $15m. This is to 'protect' the mum and dad shareholders from the unscrupulous. However in really good issues, it comes back to bite existing shareholders, as the easiest way for a company to raise capital is via a placement to sophs and funds, then tack on a SPP for existing holders.
BTW ffor those still debating how much will be taken up, from the email group it looks like about 95% are taking up the full $15k with only a couple taking up smaller amounts of $5k or $10k, though it seems almost no $10k ones.
It is some can just scrape together the $5k and everyone that has the ability is going for the $15k, often in several different entities.
Entitlement, page-69
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