It will be interesting to see where the SP goes when it opens. I imagine there will be a lot of Australian holders wanting to sell (investors who dont want the UK listing) but by the same token there will be buyers soaking up these sellers with an eye to the value extraction. From what I understanding Perpetual took up a big chunk of the capital raising so I imagine they will keep buying at 90c on market - i'm surprised they didn't do it formally through a buyback.
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Ann: Company Update and Capital Raising, page-14
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