Ann: Business Update and Equity Raising Presentation, page-6

Several big lines of EGH cleared on Friday (>50m shares) so I suspect APZ were the seller and are now out completely (we will find out in next 48hrs) if so that is a good result and adds further firepower for them.
Victorian land prices should have readjusted down but they are largely not clearing so until there are forced sellers the opportunity doesn’t seem to be able to be realised by anyone including APZ. They are patient if nothing else so I hope that patience pays off for them in a great acquisition in VIC in the coming months.
One thing is not being factored in much yet I don’t think is that APZ is a good chance of going into the ASX 300 in the September rebalance, they are well and truly there on market cap post the raise and I suspect their liquidity is getting close and maybe this raise will lead to greater trading and the increased likelihood of that outcome. If that does happen index funds will have to take decent positions in the company and I suspect that will both increase price and liquidity. Could be an interesting few months for APZ - hopefully they can match or beat their guidance for FY25 and come out with good guidance to help springboard into the 300!!