Not the new shares coming in per se but possibly portfolio...

Not the new shares coming in per se but possibly portfolio rebalancing as previously noted by another poster.

I put in my entitlement +50%. But chances are probably not going to get much of that 50% if at all so with hindsight should've used that to buy on market instead of waiting for FXL to return my money.

My valuation:

FXL npat 93 (mid of guidance)
FP npat 27
Total 120

Shares outstanding before raising 305
Shares from raising 62
Total shares 367

EPS 120/367 = 32.7cps

A conservative multiple of 10 = $3.27

New look company probably deserves 12 which gives $3.92