I'm not overly excited by the price either, but...:
"The balance of the stock was placed to institutional clients of Southern Cross Equities Limited."
Anyone else keen to find out who these 'institutional clients' might be? Have a look at the Top 20. It's not exactly littered with big corporate names or fund managers.
MLX and WGR hold 28% - so where did the other $5mil go to? THAT ladies and gentlemen is the $64m question.
JT
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