The whole lot of 50% shares likely to go to the underwriter as market price is much below the paid + unpaid part of new shares.. thus the underwriter likely become 50% owner when share price go over 12c, generally underwriting contracts are signed at rock bottom safe zone prices for the underwriter, I reckon something cooking up which should have convinced the underwriter that after the acquisition ann the potential value of CHR share will be over 12c.. fingers crossed
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