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Pilbara Wanderer

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22/06/18

15:12

Post #: 33887424
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Originally posted by Nomadic_Investor ↑

This is unfortunately one of the big flaws of the public application method.

OMBB would have been granted a fixed allocation of the raise from the lead manager Peloton. Different tiers of scale backs would have then been accommodated to fit applicants into that quota, depending on how much each of their bids were.

In most circumstances, under the public application where there isn't necessarily a quota set (unless it's numbers), you won't find out whether you received anything or not until a short time before listing when documents are dispatched. It's got a fair bit to do with bureaucracy. And even then, if one misses out, you're still waiting on the cheque. So while it's technically all part of the one raise, the way the registries handle the public applications is a really poor process in almost all cases. The only registry I've seen handle it well, in my experience, is Automic because they will sometimes tell you if you have an allocation.

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So those who’ve applied via website won’t know allocation until July 9th but will be tied up until mid/late July.
Dissaponting of the scaleback is signifiacnt as start of July is a prime time to buy into the market..
Looks like some will not only be missing allocation but missing other opportunitys on the market whilst cash is tried up
Disappointing and not a level playing field

KTD Price at posting: 0.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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Ready for KTD?, page-210

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Essential Energy conference: Streamlining approvals key to the green energy transition

HotCopper users smell capital raising as 88 Energy says "significant update" at Phoenix

Harvey Norman clocks subdued gains as Echo Law's junk warranty class action kicks off

Essential Energy conference: Elixir talks up unlocking QLD's Taroom Trough

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