Another of my holdings issued rights recently, and I’m pleased that I got 70% of the total rights which I applied for. I won’t bore you with the details of how should an investor approach a rights issue, but I would like to say that this is a moderately risky investment in Japan via a REIT. Strangely I’m surprised that most investors locally have a negative view on rights issue, which I think isn’t that bad – provided that the money raised from the equity market is put to good use, of course.  For Croesus, this is understandable, as they require capital to do an acquisition of a retail mall. Perhaps most investors do not know how the rights issue was done, and didn’t take action to find out the reason behind the rights issue. Additionally, there seems to be a certain bias against companies that are not local big names as well, from ......