most (close to 10% of the company) of the placement went to one insto who actually approached Exco for the stake, not Exco approaching them. Exco were not even looking to raise when they were approached. the calibre of the manager is very high and once the notice is in you will see what i mean. they are long term smart money managers. i expect other managers to follow them into the market on market. the other small stake ie 2million shares went to an insto who has recently bought 2mill on market, they have been buying at higher then the placement price. the rest went to IVA.
I dont think one single share of this placement will come loose. Its just retail w@nkers doing the selling at the moment. good luck to them, they will not get a reload at lower prices.
EXS Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
