There is this cliched quote about the stockmarket being about the transfer of wealth from the impatient to the patient and I think that this truly applies in this instance.
Stock issues also tend to have a negative impact on the SP initially because of the dilution they cause. Maybe forces are at work to push the issue price down? I don't know much about the issue to be honest, has an issue price been set or will it be based on the average value over a coming trading week?
a bigger picture, page-15
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Mkt cap ! $244.5M | |||
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