I'm sorry Aceboy but I can't quite grasp what you are on about. What do you mean by the "placement price". Are you talking about the Share Purchase Plan at $3.50 or are you talking about the Entitlement issue to retail investors which is underwritten. If you are commenting about the Retail Entitlement Issue the deal is done so far as the underwriter is concerned. The underwriter will pay $3.50 for any shares not taken up by retail shareholders. There will be no dispute or auction involved. The underwriter will pay up $ 3.50 per share and decide when to put the shares on the market at some suitable future time or hold on to them for some years to come. If you are talking about the Share Purchase Plan I don't think the possible total involved here is that significant. It is there for those who want to increase their exposure to IFL and its future prospects and in my view is not critical to the overall success of the CR. If IFL gets no takers for the SPP then it may be disappointing but it will not scuttle their plans.
IFL Price at posting:
$3.42 Sentiment: Buy Disclosure: Held
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