I have noticed for some time now, that during the time of a company Right Issue, the shares tend to be moving lower, and most times reaching the bottom on the last date of Acceptance.

The next day, most times bouncing back STRONGLY. A closer look also noticed that the rump of the shares left, were place at the closing price of the day before, naturally the lowest, meaning there was manipulation, Market Makers, Institution and the lot to get the RUMP of the shares at the lowest posible price.

After reaching this conclution I am trying with this thread to get information from you about any company on this circunstances at the moment, so we can find out dates and prices of those Right Issues and maybe placing aswell, and the appropiate action can be taken...... BUY the stock around the last dates of acceptance, if share price is above the R I.

Examples of shares of this happening on the past were LLOY, TW., BDEV, etc

LLOY


TW.

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LLOY
At 11am was the last time to receive the application for the Right Issue, so being the last day and the normal thing is any rump shares not taken up will be sold to Institutions at todays closing price on Monday.

So someone ( well most likely a few - MMs, Institutions wanting to get some of the rump ) have been working hard to get the price as low as posible at closing.

After opening higher with the market, it finished well down


I bought a few just before close at 56.22p for a short term bounce, paid premium for T+10

Closing spread was 56.30 / 56.39p
The UT was at 56.22p

Lets see on Monday at what price was the rump was sold.
nice weekend

DES - open offer ............ 1 for 10 held at 70p
X - 10 December 2009
reveive of moneys by 11 am on 5 January 10

9 Dec 09 - Desire Petroleum is raising 20.3m through an open offer of up to 28,971,544 new shares at 70p apiece - a discount of 21.1% to the closing price last night (8 December).

The offer is being made on the basis of one open offer share for every 10 existing shares held.

Details of the Open Offer
Under the Open Offer, Desire intends to issue up to 28,971,544 New Ordinary
Shares, comprising 28,971,544 Open Offer Shares (representing net proceeds of
GBP19.9 million) to be made available to Qualifying Shareholders pursuant to the
Open Offer.
The Issue Price is 70 pence per New Ordinary Share.
Under the Open Offer, Qualifying Shareholders have a Basic Entitlement of one
Open Offer Share for every ten Existing Shares registered in their name on the
Record Date and are also being offered the opportunity to subscribe for New
Ordinary Shares in addition to their Basic Entitlement under the Excess
Application Facility.

Record date 8 Dec 09

Ex-entitlement date of the Open Offer 8.00 a.m. on 10 December 2009

Latest time of receipt 11 am on 5 January 10

Interesting thread and shows the manipulation taking place at the moment.

I may be corrected on prices but you can add AFR 87p (offered at 80p); BAO 5.6p (6.5p); BLNX 16.25p (18p); GFRD 299p (280p - this has fallen from the ex price of around 450P); VOG 4.90p (re: 5.4p).

GRI

Grainger rights issue has 92.69% take-up

Property firm Grainger's two-for-one rights issue had an acceptance rate of 92.69%.

The 20.3 million shares not purchased will be sold in the market by the underwriters.