It's not that hard to value the rights as a ballpark figure but...

It's not that hard to value the rights as a ballpark figure but managements across the world get in trouble with valuations of options.

If IDM is <11c its probably cheaper to just buy on market. I will oversubscribe not sure how much I will get. One of the major holders ACP investments seems to want to offload their rights so there might be some to go around. That's only 400k though and if the other majors take up their rights there isn't going to be much left anyway. As Peppie was saying its quite a tight register.

They have been quite fair both times in terms of their capital raisings so kudos to management for making sure the little guys don't get unduly diluted. The underwriting fee seems excessive though.