Yes exactly. Holidays, limited funds etc
As a comparison another oversubscribed SPP I was involved with last year with similar margins has 15,000 shareholders. The maximum amount you could apply for was $15,000. SPP amount was low at $5M & it was heavily oversubscribed raising $35.8M.
So 15,000 shareholders x $15,000 = $225M maximum. $35.8M / $225M = 15.91% of the maximum was raised.
Maybe NST raised 14% of the $420M maximum = $58.8M & define it as heavily oversubscribed.
Not fussed with what I end up with just interested to see how they will do it.
Ann: Share Purchase Plan Offer Closes Oversubscribed, page-90
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