Only existing holders were given an allocation of the raise
Some funds have been given a nice chunk and will be now adding on market and supporting the SP
Just goes to show you how this game works.
All in all its a good result as the recipients are not generalist who would be looking to flip on a short term basis and existing and new funds looking to increase and take a position on any rerate coming from news.
I expect a small drop today and hope current holders don't get spooked and dump their holdings hoping to get in cheaper course you wont.
My advice to management is don't get too cute with your raises as you have a very checkered past, stick to your knitting and get on with it!
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