In the wash it will be interesting to see how many shares were subscribed for, and the average amount subscribed for. It will also be interesting to see the eventual breakup btw the SPP and the Placement. Of course it will be more interesting to see how much we are scaled back by.
I guess the real question is, that given the original intention of the fund and their intent to gain mass and thus institutional acceptance to assist with floats, and also being able to hold stocks and still have enough to take a new position in a float or capital raising... is..... why scale back at all ?
I would have thought that in this case, too much is never enough ! Or are they regulated by ASIC to only raise the maximum that they announced initially ? However, when I did contact WAM, I was told that the allocation and amount to be accepted was at the discretion of the board.
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