Yes it was only major shareholders including company execs who stumped up the majority of the placement. $4.05m from them and $750,000 from other shareholders. I expected that might be the case with the SP being at a substantial discount for much of the offer period. However it does mean that they will have sufficient funds to buy that portfolio of performing arrangements which will have some hard data to backup its future value. Not a bad thing when the market for PDLs is currently at a low and very competitive.
PNC Price at posting:
48.0¢ Sentiment: None Disclosure: Held
