MUM - Webral: "...today is closing date for 5.5c rights, allotted next week".
Yes, but the record date was a while ago. Buyers todays aren't entitled to the placement, so something else is driving it up.
Not sure what to make of the action today, as many rights-issue holders are going to sell into the market when they get their shares next week - could be an easy 100% gain for a few. . . if the price holds, and short-term disappointment for the ones who don't sell. Long-term value is obvious though. On my watch-for-a-few-months list.
