I omitted to add that the SPPs on offer today are for larger amounts, typically $25k and greater.
COH's (shock) capital raising announcement today (in the form of $800m Placement Plus $50m SPP) is instructive, I think.
It will result in a 9.9% increase in COH's issued shares, and the SPP proportion is modest, being just 6% of the total amount being raised.
The SPP amount being offered is "up to $30k", with no over-subscription acceptances.
I suspect that structure is a reflection of the views of COH's corporate advisors and underwriters about how traumatised and brutalised retail investors are feeling at the moment.
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