Not so much of a surprise though either. I fully subscribed and...

Not so much of a surprise though either. I fully subscribed and put in an extra amount for additional shares. Up to now I only received the shares I was entitled to.

That leads me to conclude:

1. In total a bit over 42% of holders took their entitlement.
2. Shanshan had no permission to take their shares yet (almost 20%) and I predict they will as soon as they get approval from PRC.
3. That leaves 38% of holders who did not take the rights issue. (some of whom simply were not allowed due to the jurisdiction they live in)
4. People who oversubscribed are not yet counted for.

Is it brilliant so far? Clearly not.

But I expect some good news coming. Not necessarily in that order but rather soon:
1. Shanshan taking their full entitlement
2. AB loading up more
3. A third party covering the remainder of the shortfall.

Management have proven to be busy and committed and surprised me on the upside lately. Apart from that the market will have to start turning at some point soon.