Details of the Shortfall Bookbuild Approximately 1.34 billion...

Details of the Shortfall Bookbuild

Approximately 1.34 billion entitlements, representing those retail and institutional entitlements which were not taken up in the Institutional Entitlement Offer or Retail Entitlement Offer or which would have been issued to ineligible retail shareholders (Shortfall Shares), will be offered for sale in the single shortfall bookbuild (Bookbuild).







Institutional Entitlement Offer

The Institutional Entitlement Offer closed at 5pm (AEDT) on 19 December 2019 and received strong support from existing institutional shareholders, raising gross proceeds of approximately A$39.7m (US$27.3m).
The entitlements of any Eligible Institutional Shareholders who elected not to take up their entitlements or were ineligible to participate in the Institutional Entitlement Offer, will be renounced and offered for sale in the single shortfall bookbuild (Bookbuild) as described below. Eligible Institutional Shareholders have had the opportunity to elect to take up additional shares in the Bookbuild.

so roughly 20% not taken up if i read it right  1.5 billion shares...

instos were about US$2 mill short. just a few %

so the smaller shareholders really did a no show by the looks,   imho  16% perhaps did not participate?

am i reading it right?