Well if it is an SPP then you are entitled to ask for $5k or sometimes $10k of shares, regardless of how much you own. Thats the big difference between an SPP and a pro-rata rights issue.
Sometimes, but very rarely, they get scaled back. QBE is the only recent notable example. They can choose any weird method they like to do the scale-back.
I suspect QBE was a scam, their figures did not make sense, I suspect a few instos managed to divide their holdings and make hundreds of separate applications somehow.
mgq spp - scaleback, page-17
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