I have actually bought on market. Retail holders should be upset that their holding was diluted at a cheap price even if they took up their entire entitlement. You either don't understand the structure of the capital raising, don't understand basic mathematics or are an institutional holder. That flipping profit you're talking about, that the underwriters have just obtained, is your money.
The reason I have pursued a class action is because if retail holders don't stand up for our rights we will be taken advantage of by larger shareholders and management. This is a clear case of retail holders being placed last in the ownership structure.
Maurice Blackburn seems to think it may be possible. So thanks for your unsolicited advice, but I will stick to what legal professionals tell me!
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I have actually bought on market. Retail holders should be upset...
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