Yeah it all depends on their business model and their incentives behind underwriting this. If they need the funds recycled quickly so they can redeploy them - which can often be the case - then they will be happy enough to sell at an average price for an overall "loss" that is still less than their fees.
But I suspect that the reason that they placed the restriction of no more than 50% of your allocation in the SPP may have been that they already had additional buyers from the institutional placement who would've taken on more, that the shortfall was partially intentional, and that these shares will be able to be transferred between the instos off market.
Ann: Lynas Successfully Completes Retail Entitlement Offer, page-20
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$6.12 |
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| No. | Vol. | Price($) |
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| Price($) | Vol. | No. |
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