Initially, I thought these were shares that could not be placed (ie shortfall) but I now think it is where all the "unmarketable" parcels that would have been given to small holders (and who were paid out) have been placed. Not that there is much difference - they have not been placed and so the lead manager has ended up with them.
CNR Price at posting:
20.0¢ Sentiment: None Disclosure: Held
