IFL 0.95% $2.65 insignia financial ltd

Ann: Completion of Retail Entitlement Offer and Share Purchase Pl, page-3

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    " IOOF received valid applications from eligible retail shareholders under the Retail Entitlement Offer (Eligible Retail Shareholders) for approximately 2.8 million shares (New Shares), representing a participation rate of approximately 3%. Approximately 85.1 million new shares not taken up under the Retail Entitlement Offer will be allocated to sub-underwriters of the Retail Entitlement Offer."

    Who are the 3% who would buy at higher than market price, and why would they?
 
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