Ann: Trading Halt, page-153

Based on rather large precedent with this company, the short positions have picked up the lion's share of the stock in placements.

In this case, 122m shares are being issued,compared to around 55m shares short-sold.

My money is in keeping with history, in which the shorters getting overwhelmingly squared off (again) in the placement.

As for considering underwriting circumstances, I think it is especially relevant this time, given the record size of the raising relative to the current market capitalisation of the company. In the event of a shortfall, I don't see the stock ending up with underwriters possessing stable hands; the very opposite of it, more likely.

So this thing would not only crash straight through TERP (I think that's a given), but even be staring the offer price in the face.

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