Given 3 of the top 5 are nominees/brokers, it is hard to tell...

Given 3 of the top 5 are nominees/brokers, it is hard to tell who actually increased their holdings.

You would expect that the major nominees would have increased holdings given the last raise was for sophisticated/institutional holders only which would mostly transact through the nominees.

For all we know Meridian and the other major holders didn't take up any of the last cap raise. The movements/increases of the brokers could all just be new-to-FAR sophisticated holders that purcased via the nominees/brokers


The only things we know for certain is Farjoy Pty Ltd didn't take any up of the cap raise whilst City Securities took up a decent chunk

The three major nominee accounts increased their % share of FAR only by 12% (from 30.7% to 34.3%), this is less than the 15% raised by FAR, meaning the three major nominees (and their holders) were overall slighlty diluted by the cap raise.