Lifesaver capital raising, page-38

You have mentioned the other factor in liquidity, being the 'readiness of buyers and sellers', which is indeed valid. And yes, whilst not mathematically bound, generally speaking you will find less volatility with larger share issues. Meaning that for larger share issues, there are more willing buyers or sellers within a given price range, such that market price is not greatly affected for a given transaction.

CAJ is an ok investment now, but not great. I don't like management and they pay no divvy. They should grow from here (albeit potentially slow) but there execution for the last couple of years has been poor. Covid is another major factor. Incidentally I think IDX is a better choice right now if one is choosing an imaging provider.