Ann: Infratil announces NZ$1,150 million equity raising, page-13

Assuming the share price holds above NZ$10.15, the retail offer is likely to be oversubscribed. The company intends to scale back applications based on existing shareholdings rather than the application amount, so it is unlikely that you will be allocated shares over and above the level required to maintain your proportionate ownership. From page 19 of the presentation:



If the share price tanks, then all bets are off as IFT may struggle to raise NZ$150m in the retail offer. Based on the open on the NZX today, share price holding up well above NZ$10.15.