"· Retail shareholders apparently took up 53% of their entitlement offer at A$13.50/share and this also now appears unlikely to be scaled back by WES."
I'm not sure if what they are saying makes sense. The "entitlement" (3/7) part was guaranteed, so there was never a question of that part being scaled back.
Regarding applications for additional shares at $13.50, Wesfarmers never indicated what amount they would accept before deciding to scale back. Since they indicated they expected only 20% take-up of the entitled part, it is possible that they were planning to only offer additional shares to meet any shortfall under 20%. This could mean no additional shares will be issued. This is pure speculation on my behalf. I just don't see why 53% take-up in itself implies no scale back.
retail offer take-up, page-4
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