Peninsula Energy (ASX:PEN) has been swamped by existing shareholders wanting to participate in the company's share purchase plan (SPP).
The SPP was priced at $0.50, the same as a price as the recent placement, and a recent increase in the uranium price had the offer trading in-the-money.
Peninsula last traded at $0.67.
The underwritten SPP was for A$6.5 million, and was heavily oversubscribed attracting 1340 applications for circa A$15.47 million.
A scale back is expected, with details to come.
The issue date for the SPP shares is 13 March 2017.