What do we read into DDR increasing the SPP from $10m to $21.8m? Given market conditions, retail shareholders were muted in the level of applications, so given the small level of over subscriptions relative the the previous SPP, I guess it makes sense for DDR to take all the cash on offer.
From a shareholder perspective, given the new shares are underwater given yesterday’s close, it’s hard to be too excited about receiving my full application. I wonder if there are many shareholders who applied for more shares than they really wanted assuming there would be some scaling, which means there will be a bit of short term overhang?
What do we read into DDR increasing the SPP from $10m to $21.8m?...
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