Rubicon shares jump on fully subscribed rights issue

Thu, 05 Jul 2012

July 5 (BusinessDesk) - Forestry science and wood products investor Rubicon has completed its $21 million one-for-three rights issue, fully subscribed, with all shares taken up by existing shareholders at a slight premium to the issue price. The Rubicon share price jumped 8.3 percent on the news this morning, to 26 cents, two cents above the 24 cents a share achieved for the unsubscribed entitlement portion of the issue, itself a 9 percent premium to the 22 cents per share application price. "Under the terms of the offer, this premium will b...

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