more spp details released, page-15

IMO its a good thing that the listing rule will force them to scale back. Its not GGP decision to limit it at 30%, it is the rules.

This will limit the dilution somewhat.

At the end of the day, i still dont expect many to apply for the full $15k. For starters, you'd want to own atleast that much to begin with, then you'd require a spare $15k laying around, and finally you'd be willing to have your money tied up indefinately waiting for GGP to process the application and finally refund extra monies.

Scaling back is usually fair and usually involves the number of shares you hold. ie if you hold $1k and apply for $15k, you are likely to be scaled back more than someone who owns $50k. They can use other factors in scaling back, like how long you have held.

With 4600 holders and market cap $27mil, that equates to about $5800 average parcel size. Less if we consider the top20 holders.

I cant offer advice, but IMO if you held $2k, it would be pointless applying for $15k, much better to be realistic and apply for $3k. You still might be scaled back but atleat you wont have $15k tied up while the application is processed.