Section 6.14 of the Offer doc provides info re conditions under which UBS can terminate underwriting.
Wording is unfortunately general e.g. "there are material disruptions in financial markets or economic conditions in key markets, or hostilities commence or escalate in certain key countries".
With the current market price of 35.2c being 27% below issue price of 48c, would there be some motivation to consider termination?
Views appreciated.
DYODD
Fair value, page-38
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