Ann: Becoming a substantial holder, page-23

H A L L O-anybody out there?.
The paucity of posts/debate on the BLY thread is at least consistent with the apparent absence of any BLY-watching poster with knowledge of a company called Billabong International(everybody knows it,but seemingly not from an investment perspective)
I must admit to never having had a serious look at it( the industry is not my cup of tea).
I had to go to Wikepedia just to get a handle on Centrebridge partners.
Now I see that Centerbridge were involved in the recapitalisation of BBG in Jan/Mar and to see what they did and how they handled it gives a good feeling for what is likely to be happening to BLY.
Based on the BBG scenario I reverse my scepticism of hedge funds (well,sort of) in favour of speculating that CBs position taking is with BLYs knowledge and support.
Based on what CB did re BBG its likely that we could see an institutional component of a c.r. first,followed a month or so later by a retail component.
We are likely to see a prorata ,RENOUNCEABLE issue with rights trading.In BBGs case CB got to 40.65% before issuing their first SSH notice.
The BBG issue had no entitlement to apply for additional shares,as you would expect.
Both Instit.and retail holders were offered 3 for 8.
I missed on observing about an underwriter,or if the issue was underwritten.
Im amazed that nobody watching the BLY thread on HC knew about the BBG scenario.