I'd like to see who the sellers are. It would be in the interest of Magna to keep the price at 13c so very few take up their rights issue and Magna get most of those on offer at 13c. I'm sure the ASX has seen such strategies through related companies, capping the price.
Only 200,000 or so shares sold ($26,000) to drop the price back to 13c. The result may be magna get close to the full rights issue and perhaps millions more shares at 13c.
Would make a takeover easier later if they can grab as many as possible with such a strategy and ASX cannot identify any links with the sellers.
CCU Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
