Or they do what smartpay did (although they didn't accept over subscriptions), and the scale back is massive.. Most applications for 25K for them got scaled back to around $1,500...
Given that there are limits to what they can accept under the ASX listing rules, I think $2 million is an outside cap. If there are 4000 share holders, and 50% of them apply for shares, then that gives $1,000 wrth per holder...
How many holders are there? Given it is (well certainly prior to today which is still a 10% premium), a no brainer to take part, then I think the shares will be spread pretty thin.
I have a feeling that anyone that sold anything reasonable to take a short term profit and reaquire through the SPP will left short.
Or they do what smartpay did (although they didn't accept over...
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