It’s all a bit of a mystery to me but my guess is that the brokers don’t mind buying at a few cents above the rights issue price today, because they can see the direction the price is going over the next 3 months.
So they’ve taken the brakes off the share price a little and are mopping up sales from retailers who want to make a little profit between todays price and 58 cents.
On the timing issue you mentioned: my broker required that I commit to my entitlement shares by end of business on Tuesday, so I can’t ride on today’s rise.
SPR Price at posting:
61.3¢ Sentiment: Hold Disclosure: Held
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