i am in the same boat as you. I hold a few, but the illiquidity of the stock makes getting a reasonable position very difficult (small purchases can still have a significant impact on price).
I quickly went through the annual report and noticed that the shareholding register is skewed towards 10,000-100,000 range. ie the register is not wide with numerous small holdings.
In my opinion this will make it difficult to meaningfully oversubscribe to the rights issue (the best situation is when there are numerous micro shareholders. Micro shareholdings have a lower probability of subscribing to any rights issues).
I think if one is serious about taking a reasonable position in this company, the best opportunity will come once the new shares from the rights are issued.
Hopefully some day traders will jump on board, try to get the rights and then get caught on the sell side due to lack of liquidity. Given that their capital needs to be recycled, they could be willing sellers.
SIV Price at posting:
$1.51 Sentiment: None Disclosure: Held
