Institutional placement and rights are completed and were...

Institutional placement and rights are completed and were oversubscribed. Possibly the underwriters are trying to disuade retail holders from taking up their entitlements to grab it all for themselves. Then push it up 15% and do a prop and dump.

Have a read of asteroider's posts on IOF following their cap raising a couple of months back. I think the same strategy may be being used again.

The last week has also seen a decent % of shorts who will need to cover at some point.

I have already taken up my CFD entitlements which were part of the institutional entitlements. Will also buy more on market over the next two weeks on further weakness.