Scale backs are almost always conducted post GFC. companies raising funds have a target and normally do not accept much beyond their set objection.
They also raise the majority through retail funds with a smaller proportion to the retail investors.
as there is currently a large gap between offer price and market price this will no doubt be heavily oversubscribed resulting in scale backs and refunds being issued to people.
That had been my experience with these SPP in recent years. Last year no different.
PDL Price at posting:
$7.95 Sentiment: Hold Disclosure: Held
