Mak, did you see that the Minimum amount to purchase is $2,000....

Mak, did you see that the Minimum amount to purchase is $2,000.
thus at 35c = 5,714 shares each.
so, according to your figures, if 5,500 s/h each apply for minimum amount = $11m total.
so way above $3m.
I see that AJX can issue oversubscriptions, subject to "limitations of ASX Listing Rules" - am not sure what that is, but probably to do with the 15% share issue rules?? don't know.
I guess AJX can scale back that $2,000, because they seem to be able to change just about any of the parameters of the SPP.
$3m / $2,000 = only 1,500 shareholders.
if SP holds above 35c, then we can bet there will be more than 1,500 apply for the minimum parcel.
cheers