Fair enough about the corporate costs. If you believe the bond could get approved anytime then better to buy now rather than get caught in the capital raising with a higher share price during those 5 days. But market disagrees, no one is in a rush to buy now. The lower the price the better for the underwriter and its clients. Again, I cannot see management burning Pattersons.
Ann: Company Presentation - July 2019 (Amended), page-17
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