Big call.
Impossible to know that.
I went back and looked a few posted here they got 50% or less in the placement.
SM did the right thing by retail who had been pretty much ignored previously.
Insto's didn't like it. SM got very very poor advice on the 1 for 12 rights issue but IMO the damage was done when they wound one insto back to zero.
PAC and co would have been very pissed off at that IMO especially if they were a big client.
IVZ Share Price, page-20997
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