Ann: Trading Halt, page-166

I have been keeping an eye daily on asx top gainers by percentage and what I observed is contrary to what usually happens before when the sp retrace down to the placement offer price now what happens is the opposite it goes up multiples of placement offer price. This happens when the placement is oversubscribed which shows a pent up demand and when it is used for growth i.e. to fund accelerated drilling or to acquire a highly prospective company. In the case of ado the money will be used for growth “to help roll out the company’s COVID-19 rapid testing kit”. So if the placement is heavily oversubscribed the sp could just keep on going up instead of retracing. All imho.