wet - I wouldn't be too discouraged. I think it is holding...

wet - I wouldn't be too discouraged. I think it is holding pretty well.
Encouragingly, in short time the offer was fulfilled, actually "heavily" oversubscribed.
What I think is taking place is that subscribers (who most probably already had the stock they were happy with) will sell the new stock at a reasonable profit. With 12.5 mill new shares it could take a while to work through the market, but then I think the stock could see a rerating up.
But I'm not an expert so make your own assessment.
Cheers
Riv