Hi Digity
Obviously a lot of people agree with you. But I'm still puzzled
If as you say this is such a good option why did TNG not take it up? Have you asked them? Maybe that option wasn't open to them?
My guess, TNG being a small $100MC company with a huge $1billion Capex to find is not something brokers and sophs/instos want to get into, and if they did they'd probably want a much bigger discount to the market price at the time.
If the local brokers could find sophs and institutions to buy into it what makes you believe, as you strongly seem to, that they wouldn't be on market sellers as well??
At least with just one insto taking part we only have one seller feeding the shares gradually into a very small market. Not a whole lot of individual sellers competing with each other for the same few buyers and having an even more disruptive effect on the SP.
Anyway it looks like there will always be two camps on this one. Without knowing the full facts I trust in the ability of management to make the right decisions with the cards they are dealt
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