Hi Rak,
Putting my views on CVI aside for a moment, it is not inconceivable that a MASSIVE placement like this be done at such a premium to market SP, because:
1 - It involves more new shares than are currently on issue.
2 - It is at a sserious discount to PWC's supposidly independant valuation.
3 - It is a big picture negotiation that looks at the end value rather than the month to month SP action.
So in effect its a reverse takeover premium (ZFX bid $1 for AGM when it was 60c)
I've seen it done like this before, so I wouldn't be put off by that alone.
However, you know my concerns, and they run much deeper.
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