RE:RE:I think it takes a few days, not weeksNo, using the numbers in your process would allow someone with a measly 1,000 rights to get 50% of the oversubscriptions, just by putting up the $750k cash on Thursday. If one guy has 1,000 rights and oversubscribes for 100 million shares, the circular rules say he is not going to be given 50 million with the other 50 million spread over all the remaining guys. That would be hugely unfair to the others who collectively might own 200 million rights, and it would require oversubscribers to put up vast sums of money on Thursday to get small amounts of shares. Most people aren't sitting on large amounts of cash and would be inconvenienced doing it your way, because there would be massive overbidding by anyone who wanted to ensure he got some.
Read the circular, it's a process to give shareholders their proper share of the oversubscriptions.