If they are doing a roadshow and the instos are impressed and...

If they are doing a roadshow and the instos are impressed and want in they aren't going to buy on market.
The liquidity simply isn't there. They will want in cheap mark my words it will be a raise or a sell down of the controlling stakes. Instos don't like any one holder or management having to much power. And why as one of the major holders would you want to sell to them at a discount after so much progression unless you were absolutely desperate to get some instos on the register. Most likley outcome I still believe is a capital raise.