The great pity is that it seems like WAF Management weren't...

The great pity is that it seems like WAF Management weren't clever enough to line-up some institutions and/or a cornerstone investor to take the bulk of this placement instead of leaving it to Euroz to fill the total book probably with some institutions but mostly with their retail clients so they get 3.5% commission from WAF and then probably another 2% from their clients when they're forced to sell in the next few weeks - there's no incentive for Euroz to hunt down lots of institutions that want to buy and keep the shares and I'm sure they could of filled the book with only institutions if needed.
The extra $30mil raised from the initial amount of $120mil indicates Euroz flogged it to everyone who wanted it and will create a hangover for weeks to come IMO. WAF have not done current shareholders a benefit from taking the extra $30mil.