TUAS Limited (ASX:TUA), previously known as TPG Telecom, the Singaporean broadband and mobile network run by David Teo announced yesterday its purchase of the Singaporean teleco company M1.  To pay for the purchase TUA announced an institutional capital raise of $A366m and a SPP intended to raise $A50m.

Since coming out of the trading halt yesterday TUA has rocketed some 40% to $A7.30. The SPP offer price is $A5.24.

TUA has around 12,800 shareholders and if say 80% of them take up their full $30k entitlement that will result in an average scaled back allotment of around $5k each.  All things reamining equal, and assuming these shareholders take up their full scaled back entitlement they might make around $2k each.  

In another time stuff like this would be the inspiration for Norman Lindsay to write The Magic Pudding.

It must be a sign of the top of the market with a soon-to-come major correction when fat crumbs like this make it down to us riff raff.  (Otherwise known as retail shareholders).