Um...me again, this capital raising is not at the expense of retail shareholders. It is a rights issue meaning existing shareholders have the first right / opportunity to participate in the capital raising pro rata to their existing shareholdings.
Only the shortfall from the rights issue will go to institutional investors, which are likely to be "absolute return" style small cap funds (rather than the "index hugging" mutual funds you are referring to).
If the capital raising is for value accretive purposes, I expect a fairly high take-up rate from existing shareholders.
CZZ Price at posting:
$21.12 Sentiment: Buy Disclosure: Held
