With the close of the rights offer yesterday we should soon hear...

With the close of the rights offer yesterday we should soon hear what proportion of shares were taken up and what portion have gone to the underwriter.

The lack of sellers in the market in recent times has been very encouraging, despite the price fall. There appear to be few current holders willing to take a price near 50c. There are now buyers turning up as well, which could mean a move in the price soon. Buy orders exceed sells 5 to 1. There is currently a big buy order at 50c that exceeds the whole sell side.