Ann: Completion of Retail Entitlement Offer , page-9

Maybe not, it's not over yet till the new shares are actually issued and can come on the market. The value of the company according to share price is a bit airy fairy in volatile situations as it is done at the margins of who wants to buy and sell at the time - and is very much subject to manipulation and short term sentiment.

The underwriters and sub underwriters will be wanting to sell off over time, but I would expect not at a loss to the .40 they have paid. Perhaps the dump was to make sure that there was no premium to be paid to holders who didn't take participate? I woud not be surprised if there is a bit of a pump sometime after 20th May.

Kwai, I'm not sure what your "Sept 15th" in another post was about, but the thrust of that post seems to me to be correct, ie now that they have money to proceed, in a few months things will be happenning and sentiment should be very positive.