pertinent comments, page-25

re: opening price .dazzahc dazza

I agree with your reasoning and that PNA will open somewhere between 30 and 36 cents, but I don't know that your maths is correct.

The post issue average price will be around:

(5 x 43) + (4 x 30) / 9 = 37

But yes they will most likely open below that and get sold down to the entitlement price. And why would anyone buy them at higher than 30 when they can take up the issue at that price????

H