Ann: Rights Issue Closes Significantly Oversubscribed, page-52

With the dust now settling on the pro rata issue, some facts have emerged that point to a decent amount of support from somewhere.
To be in the pro rata issue, either you already held shares or purchased the right to be in. With the underwriter taking no shares( I fact checked this with SUDA), it shows very strong support from within this group, and seems at odds with the skepticism held by some.
Where did the oversubscription come from, if everyone took there full quota, 860m shares would have sold, but surprisingly 974m did. Normally a proportion of shareholders would buy none or less than their entitlement, then add the excluded overseas holders. All up it points to a figure well below 860m as direct entitlement uptake.
Although I doubled up on the entitlement by partaking in the shortfall pool, as a smaller investor, it wouldn't make much difference, unless, there many others doing the same. Alternately, a few large oversubscription applications would achieve the same. In the small shareholder scenario, the power base doesn't shift much, in the other it does.
It lends to the thought this capital raise may not just be about the money. Either way people have supported with their hard cash and expect a return.