It would be considerably more dilutory than AIO and would probably mean handing over control of the group to whoever decides to back the rights issue, and although I am sure this is not an option they want to take, it cannot be ruled out.
However, I think a better option would be to sell DBCT for what they can get, see off a good chunk of corporate debt, and then have a rights issue at a more favourable market price.
BBI Price at posting:
6.8¢ Sentiment: None Disclosure: Held
