the reason they did the rights issue at $2.50 & not $3.50 is due to demand. To be able to get this away and done quickly, it needed to be an attractive offer for insto's, just like NAB did their cap raising at $20. Insto's got wind of CSR doing a rights issue and the price quickly dropped & now they are doing it at about $1.70.
At $3.50, IPL wouldn't have had much luck.
rights issue - a better way?, page-9
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| Open | High | Low | Value | Volume |
| $2.93 | $2.96 | $2.92 | $11.55M | 3.935M |
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| No. | Vol. | Price($) |
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| 2 | 81761 | $2.93 |
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| Price($) | Vol. | No. |
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| $2.96 | 62405 | 2 |
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