I am currently intending to take up my guaranteed allocation of the N Brown (LON:BWNG) open offer. This entitles me to buy shares at 57p. The current market cap is £182m, they are looking to raise about £100m. The price has been gyrating wildly this week - up 12% or so yesterday, down 7% or so today. Obviously I will wait until the last moment before taking up the offer, but I have to make a decision by noon on the 10th and I will not receive the shares until the 23rd. Presumably the share price will fall immediately after the new shares are created.

Should I really be looking for a price further above 57p than the current 63p before committing to buy?

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