The rights issue was undersubscribed by about 62% (i.e. only 38% of rights exercised).
Spring Idea had only agreed to underwrite just under 27%, so there was still another 35% shortfall to allocate. Looks like they had a secondary underwriting agreement with Montpelier for another 15%, so that leaves a further 20% to allocate.
The rights issue was undersubscribed by about 62% (i.e. only 38%...
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