gragou02 I think you are being a little harsh on IFL by tarring and feathering it as the same as the naughty banks and some other financial institutions that tended to engage in dodgy practices which were unearthed by the Royal Commission..
Certainly IFL was initially dragged down by that sort of view of the whole industry but in recent times IFL has been rising as it has been shown to be largely immune from those "mistakes". Any queries launched into IFL's activities have largely been shown to be inaccurate and IFL has risen above such smear tactics.
The fact that IFL is prepared to undertake this purchase in the present environment and the fact that, despite the size of funds required, it is being solidly supported by the institutions that have fronted up for their share of the capital raising, is a major positive for me about IFL's future prospects. The fact that it fully underwritten also indicates that it is going to happen.
You either accept that and get on board by taking up the shares you are offered to maintain your % share in the enlarged company or you don't and those who don't will no doubt spend their time grizzling and moaning into the future.
IFL has a good track record and is likely to become a very dominant, strong company in its sector in a few years time.
IFL Price at posting:
$3.62 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)