Olympia Capital Holdings has a Rights Offer pending. The final date for trading the Rights is 14 Sep 2007. The final payment date is 28 Sep 2007.
The current outstanding shares are 10,000,000 with 30,000,000 Rights on offer.
The regular shares trade volume is relatively low (see MyStocks for graphing) and if they trade 5,000 shares, it is considered a huge deal!
Therefore the total Rights traded today were 5,170,200 (yes, over 5mn)... Wow! That is 17% of all outstanding Rights on offer.
Generally when someone buys Rights, it means that they will be exercised. In comparison only 3,300 shares were traded at 16/- so there seems to be a bottom reached.
There are 3 more trading days for the Rights so let's see how this develops.
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