Ann: Trading Halt, page-10

I don't think that's entirely correct. Retail holders are far more likely to hold for shorter time frames as per all the data from the ASX. Lots of instos etc who hold for a short period during and after a CR are simply performing a mechanism of the market. A company like ATX needs funds without caveats from banks etc so they go for a CR, an institution needs to get a return on their funds so they go into a CR at a discounted price to get their return on investment. Both parties win, ATX gets easy and quick funding, Institution X gets a quick return.. everyone wins.

It will be interesting to see what price the raise is at and what they want the funds for