maybe the insto's are keeping maintaining the buy above 5.5c rights price. either way, the main concern will be when the renouncable rights issue becomes available to trade. that'll be the time to see how many of them get flogged off, esp. when the SP is hovering around 5.6c so you get like 0.1c return, equating to $100 for every 100,000 rights you give up (vs $5,500 to convert to shares if you decide not to offload).
