Listed miner Pike River Coal said yesterday its $60 million rights issue was oversubscribed by 5 per cent.
The offer of 66,666,667 shares generated acceptances from around 73 per cent of shareholders, and more than 2000 applied for shares over their entitlement.
Major shareholders New ZealandOil & Gas, Saurashtra World Holdings Private and Gujarat NRE, took up their entitlements to maintain their percentage shareholding in the company.
