Actually the whole process has gone off well with "everyone' making money and the Govt putting a floor under the sp. For those that have paid too much in the IPO well then they can wait because they will get "bonus shares".
To their credit the IPO included dealing with stag traders and maintaining a share price after listing. Wont comment on the method but it has achieved IMO the objective and time will tell if the price shouldnt be where it is.
Having to hold there shares till the 6/7 of Dec is in fact a greenshoe mechanism by default.
Whether the insto's hold onto the shares over the longer term will depend on their portfolio returns to investors. This may make it a more volatile sp or not. At the current price it could easily trade into 5% volatility without the insto's clamoring or dumping their positions, dependent on cashflows.
Given that the dividend is unknown I feel the price may fluctuate by at least 5% till such time as a position warrants otherwise.
Cheers
QRN Price at posting:
$2.69 Sentiment: None Disclosure: Not Held
