Ann: FBR successfully completes institutional placement, page-42

A bit disappointing that the cap raise happened at 0.027.
I still don't understand why the price wasn't given a chance to run up before calling the cap raise.
I wonder what instos, apart from Brickworks, were involved.
Is it likely you have some instos just selling to book a short term capital gain?
This would be the worst type of investor to raise to because they give to hoots about the fundamentals of FBR and are just there for a good time not a long time for the quick buck.
If the cap raise had been done at a premium, I think the price increase would have been more sustaining. Good to at least know that Brickworks are trying to maintain their share.
Oh well, all good. I know the value of what I own and I would have never sold our short term anyway so it makes no difference to me where it goes short term. Fortunately, $12.6m is still a relatively modest amount, which is hopefully enough to buy some time until we can get some cash flow coming through the door for some builds.
Looking forward to some time later today to disect the latest corporate preso but some are calling it a good preso it's all good.

Not providing investment advice. Do your own research, etc. etc.