So true. The fact that the offer was so heavily over subscribed tells me one thing only…..far too cheap and was done to mainly mates and associates of the brokers, Doubt that there is a cornerstone investor involved because the issue was not for too many shares in the scheme of things, a cornerstone investor would have just been subscribed an off market parcel of say 15% and no need for the raise. A shareholders EGM required etc.
ADN Price at posting:
1.7¢ Sentiment: None Disclosure: Held
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