I am pretty new to these also.
Oversubscribed means very good, there is a good expectation that the deal will be signed and, they want to get as many cheap shares as possible.
However, I don't expect it will move SP up, as everyone focused to see the deal announcement, sniffing gut feeling etc is not enough at this stage. I think everyone finger on the trigger for buy or sell depending on outcome.
Ann: Rights issue closure and Appendix 3B, page-5
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