Ann: Trading Halt, page-29

Google Next investors Bluebush. Its a newsletter of there portfolio of investments.

This part taken from there latest Email

Another bright spot we noticed in the last couple of weeks (bright in some ways but also annoying in others) was there are scalebacks happening on capital raises.
In bear markets cap raisings are hard work and companies/brokers struggle to find enough cash to reach the target cap raise amount.
Scalebacks usually only occur in strong markets.
Scalebacks are a good sign because it means there is more money trying to pile into a cap raise then there is available room to fit it all in.
People will bid a certain amount that they want to invest in a placement, but then bid amounts are reduced (scaled back) in order to fit everyone into the placement maximum amount.
Scaled back bidders will have to go and buy on the market IF they want their full amount of new shares.
We saw significant scalebacks on placements in WHK and DXB.
And on Friday we saw a big scale back on the ALA placement.