spot on abs085. My biggest worry now is the underwriters that are on the hook may wish to dump and this will be awful to watch. They would not have been preparing to be forced to purchase so much stock. Maybe the best thing that shareholders can hope for is the deal falling over for whatever reason and some normality can resume. The SPP will not be taken up by anyone and the underwriters will be the ones taking the slops at $3.50. I would not know any investor that would take their allocation unless miraculously the share price recovers within the time frame of the offer expiring.
IFL Price at posting:
$3.42 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)