There are some who will subscribe, but many who will not. The placement and the SPP are not underwritten and so TSO have taken the risk on this and in effect are treating it as an optional extra to keep retail investors feel appreciatred and hence involved. Nevertheless, they have been successful with the placement (main part of the CR), courtetesy of sophisticateds and other existing shareholders. The managing broker needs to justify their fees after all.
TSO Price at posting:
8.4¢ Sentiment: Buy Disclosure: Held
