GP - I wish I had the facts and an inside view, but do not. The annual report from last year had a top 20 of over 50% at least that looked like insts to me, and I imagine there are a significant number outside the top 20. I think you need to look at the guidance for 2016, and the new issuance that will be in place then. By my sums that is 8.2 cps eps, if you ignore the writedowns and one-offs etc. Re it being fully underwritten - some of the underwriters possibly hold short positions already, and some may open one now to hedge their exposure, if they can.
MYR Price at posting:
92.0¢ Sentiment: Sell Disclosure: Held
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