the retail equity raising, page-6

Jeeper, if you want more MRM stock then buy below $2.40. The retail offer is fully underwritten at $2.40 according to the new issue announcement--not sure who the underwriter is, (maybe Morgan Stanley?), so they must take up ALL the slack. At $2.40 the stock is cheap on forward P/E, so risk of further loss is minimal.

Having said that, the new Singapore managed and based assets taken on by MRM have to prove themselves as earners---the market is taking a 'wait-and-see' attitude. The market is not interested, and indeed seems suspicious, of data that MRM has reported on the past performance of the Singapore assets under 'foreign' management.