Karll,
That's an assumption, the name of the game these days is to make profit quickly and although I understand there maybe a small pocket of noble investors I think it would be a small number and more likely to be LT investors who would not be selling the day after the shares are available for a 1 pip profit.
Of course it's simpler to manage parcels but isn't it in CTP's interest to raise as much capital as possible? I don't agree with your logic - a small investor buying as much as a large one.
Small investors have a reason for being small and that's most likley a lack of disposable income to spend on shares. Why would an owner of say just 20,000 shares now see an opportinunity to by 45,000 shares ($2,500). I'm one of these. I would have invested $1000 if given the chance, but I wasn't - how many more of us like this were there?
I don't see any ann about being oversubscribed!
The parcels were restrictive and CTP had to find more funds from Pattos to fill the gap.
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