re: yep...worth a punt...
I expect it might maintain some level of arbitrage until just before expiry.
It would appear that traders are still not convinced about the rise in the FPO's, thus we get the arbitrage...but it would also appear not too many sellers prepared to part with their shares, even though most of those who bought in the last month are clearly in profit.
Some big fish circling the rights trading at the moment, with a bit of bid stacking going on in both directions...currently a bit of a squeeze being created around .004
Hard to work out the politics for this one.
Would TVG & Jamesgate (underwriters) be trying to accumulate more or less of the rights? Someone was quick to create a market around the .004/.005 level on Friday...but to what end?
By memory, I think TVG will end up with about 61% of the new NCA, so is a takeover possibly on the cards?
There are plenty of rights available, so obviously a pretty good way to increases ones possition...then again, they also provide a good way for someone to accumulate a decent blocking position against the possibility of any corporate moves.
NCA projections look pretty good, so may be some serious players about to strike.
