Ann: Trading Halt, page-711

Final bids closed at 12:00pm (Sydney Time) today (Tuesday, 12 May 2020).
According to other posts, the offer was oversubscribed.
Normally what happens in this situation is that institutions shall attempt to subscribe for a much larger amount as their final allocation maybe diluted a fraction of their bids. So I wouldn’t be surprised if it’s oversubscribed by 200-300%. We also don’t know if BP has the option to exceed the $100 million according to demand. Judging by previous offering, I would say good chance this goes well over $100 million.
Yes, I am sure the big institutional shorter’s shall
attempt to close out there positions here. However they may only get a fraction of what they bid for. So likely what shall happen on Wednesday is heavy trading volume as the large institutional shorters buy what they didn’t get in their requested allocation.
The short thesis was screwed up by Covid-19. Never in a million years did they ever dream that MSB would have a potentially life saving treatment for ARDS & Covid.
Also, the shorters can’t hang their hat on a poor balance sheet any more. And there might be a few shorters hanging in there for a bad CHF result (15% chance IMO),
however the Covid-19 indication would more than compensate for this small chance of CHF poor result. And finally the inclusion in ASX-200. Just a nightmare for any shorters. May long short funds put 1/3 in short positions, but shorting MSB can be very costly.
We are going to see short interest hit record lows soon. Any good news on partnerships/ trials results/ more compassionate use results/ manufacturing deals / Barda / Early stop to Covid trial due to overwhelming efficacy, can see the share price leap to much higher levels. Smart Shorters are definitely leaving town before this hurricane hits shortville.