Got my shares, plus what looks like 58.8% of my overallotment request. I subscribed for an equal number of shares on the overallotment. Actually, I'm surprised it was that high, but happy enough about it.
Yep, same here. I have 5k shares so I was allowed to get 500sh and I asked for an over-allotment of another 500sh, I got 294 additional. 294 is 58.8% of 500. Sweet. Kinda helps compensate for the stock price drop. Now that everyone has their allotments, I'm wondering how many will sell. I think it was smart to offer to shareholders, as they are more apt to hold.
The percentage is based on the original number of rights, not the amount of shares you request, assuming you requested at least 59% of your original allotment. I got around 58-59% of my base allotment as over subscription shares at both Ameritrade and IB.
I really wonder why that is so high also. I just got a response from IR.
"Most investors exercised their rights and most of those asked for oversubscription.
Only under 4 million shares were left over for oversubscription"
Well the shares haven't actually posted to my account yet, it just shows pending (changed from the last 2 weeks) and the rest of the overallotment cash was posted back to my account, so that's why I assumed it was accurate. But if the post above about IR saying less than 4 million shares were left over, I seriously doubt the 58.8%. I guess time will tell.