Pretty obvious isn't it treasure hunter. The ex rights price is now back up to the cum rights price with huge buy orders.
You would have thought that the sp would be pushed down by investors selling their ex shares to pay for the new ones. But it hasn't turned out that way as the instos can't get enough of them.
Makes you wonder that the selldown by Regent actually held the price back by a long way and if they were not selling the rights issue price could have been a lot higher and with less dilution.
BTU Price at posting:
45.5¢ Sentiment: Buy Disclosure: Held
