azure 32.5mil bookbuild, page-6

how do you know they have not been issued to azure?
answer that question for me.


i am not suggesting they will take all of them, i've stated such before, but i believe they will take a % though, wether thats 95% or 5% we don't know. but how do you know they aren't taking any????


you use the term book-building very broadly mate and you must see why i didn't like the title of the thread.
What i know as a book build is where the lead manager canvases the market to raise capital, the price of the shares is often determined by the market, not the actual listed company.

regardless, the number of shares is not the issue in the terms of your original post, the post looked as if Azure was embarking on a 32.5million dollar bookbuild, when you see reported "bookbuilds" they don't say this company is bookbuilding 32.5million shares, they say dollars.

in any event, the number of shares was set some time ago and the market is fully informed, Azure would not have been thinking "i need to get rid of 32.5million shares" they would have been thinking "we need to find 6.5million dollars", the number of shares is not the issue, you need to find the dollars!


As far as sub-underwriters go i again take it you are presuming LEG was the only sub-underwriter? is that correct or do you know for a fact?


Mate, Azure are not merely facilitators, they come to the table with cash, often their own cash. Do some research for heavens sake, check out who the guys are in there, check out their background, check out their recent dealing and how they handled those dealings.

As for a Substantial holder notice, mate its 32.5million shares, theres 603million shares on issue, if they offload 200k shares they can still sit under the 5% threshold.




look, my main gripe was with the original post,
we both don't know how many shares Azure will take themselves but you do need to take the blinkers off and realise they are not your average facilitators who are merely in it for the raising fees.
They are cashed up, their own and select clients, they work with select companies, they charge high fees but they work alongside the companies and they often take a stake in the company. If you read between the lines they obviously have a close relationship with BakerSteel also.


regards
Davo