re: Ann: Open Briefing on Capital Raising and... Chinaplate - I agree with you about the speed - not reasonable to require a prospectus etc. However a bookbuild or auction type process would allow for the highest possible price of equity to be acheived. Whereas (if being really sceptical) a discounted cap raising might mean that management are owed favours in return for their generosity, and therefore can benefit at the expense of shareholders.
Ann: Open Briefing on Capital Raising and Emu Dow, page-4
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