From what I can see, the market price did not dip below the...

From what I can see, the market price did not dip below the placement offer price ($1.02) until after the SPP closed (today).




I've been involved in a number of CRs (mining, banking & industrials) in the past, and it seems weirdly common for the market price to drop to, or close to the SPP issue price during the course of the application period; however, whilst I'm sure it has happened before, I can't recall a SPP where the market price has stayed above the issue price throughout the offer period, and then dropped significantly below soon after the offer closing date.

It's hard to see what's funny about it - I assume your last sentence meant to say "always pay on the last day" - that plan would not have garnered any advantage here, and you couldn't be critical of loyal holders buying in at any time during the offer period.