Investors are scrambling to get involved in the Butterfield Bank rights issue.

Almost 7.4 million rights — which will give buyers the chance to buy Butterfield common shares at $1.21 — were traded on the Bermuda Stock Exchange (BSX) yesterday.

The rights, which closed down a cent at seven cents yesterday, stop trading on the BSX today and the $130 million rights offering closes next Tuesday.

Butterfield shares were also trading and their price remained unchanged at $1.25, as 22,500 shares changed hands.

The only other domestic issuer to trade was Ascendant Group, the owner of Belco, which remained unchanged on $14 on the trading of 100 shares.

The Royal Gazette / BSX Index closed unchanged at 1,241.52. Turnover was $546,224.