You never know the international investors may have already been in the bag (strong pre-commitment signs) however the need for cash was so great the sp so high, a greater discount to the Vwap was needed. The motive for contributing to the CR was more one of protecting ones large existing stake in KFE, than pure investment return.
Most contrubuting would have sold in recent times, to then re-invest yesterday. There must be a group of newer investors of recent months - maybe brought in via a broker.
I still feel local limestone and coal is needed at the optimisation facility in South Africa and now theyhave the funds to do it.
Ann: Company Presentation - January 2018, page-64
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