Re: “Well with the franking credits, it could go above $28.25,...

Re: “Well with the franking credits, it could go above $28.25, although in past experience it doesn't go up much further - maybe 1-2% and I wouldn't expect that until quite close to Implemention Date”

Keep in mind the 45 day rule on claiming franking credits. In general, med/large holders need to hold for 45 days in order to claim franking credits, thus most buyers who buy on market within 45 days of the implementation date will receive no benefit from the franking credits.

As the current market price is only 1.2% below the offer price (less than the cost of money until payment is received), the market has already factored in some value to the franking credits, imo.