there was 90 million for institutions and they got 79 million of that. There was 50 million for retail and it appears they got 36 million of that. However they only put 115 million into their accounts and that was what was underwritten and that is what they got. Given you could buy the shares cheaper on market, there was never going to be a big take up by retail. To me it’s not clear how much of that 36 million came from retail and how much from the underwriters.
Anyway doesn’t matter - they were targeting 115 million, they got that and have the money they wanted.
FXL Price at posting:
$1.12 Sentiment: Hold Disclosure: Held
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