From the prospectus it would seem that if the offering is fully, or over, subscribed that the sub-underwriters may instead receive a placement for some, or all, of the shares they are sub-underwriting.
Gives the likes of Matt Jenkins the chance to get in at the offer price, currently he holds no shares in KPO. I haven't looked at the specifics of the share trading for directors in the Corporate Governance statement however given his role to date I doubt he would have been allowed to buy on market due to inside knowledge, so this is likely his first opportunity to buy.
If the offering is over-subscribed then any shortfall shares scaled back will be refunded to applicants. Just don't expect it to happen quickly.
KPO Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
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