Having followed the 2 facebook groups to remove manager of Sabana, one member mentioned that the cost paid to raise the proceeds through their rights was quite huge. Let's compare with industry practice again. This skill honed from years of working under a boss who keeps asking me why i want a raise every year and the need to compare with industry practice. So the closest one to compare with Sabana would be Soilbuild, both being industrial reits, closest in market capitalization size and closest in rights issuance dates. Soilbuild Reit's market cap = $662 million Sabana Reit's market cap = $459 million (Yahoo finance) Soilbuild Reit's rights : September 2016 Sabana Reit's rights : December 2016 Soilbuild Rights-related cost , millions= $59.4 - $59.2 = $0.2 As a percentage of proceeds raised = 0.2/ 59.4 = 0.34% Sabana As a percentage of proceeds ......