I'm of the opposite opinion - I think the details are the rights...

I'm of the opposite opinion - I think the details are the rights issue and identity of the underwriter are very important for a number of reasons. Bear in mind that the underwriter would examine the business fairly carefully before agreeing to participate, because they stand to end up with a sizeable investment in the company if the issue is undersubscribed.

The reputation of the underwriter says a lot about the worthiness of the investment. If the underwriter has a proven reputation for recognizing value, then we can assume that the investment is solid. Alternatively, if the issue is underwritten by a relative unknown and the underwriting fees are substantial, the implication is that the investment has been assessed as risky. Further down the scale, if the issue is only partially underwritten or underwritten by a number of smaller investors, this would indicate that the venture is quite risky.

For myself, I won't be taking up my entitlements unless the issue is fully underwritten by a reputable investment house.