You do not understand this cap raise judging by your comment....

You do not understand this cap raise judging by your comment. There are many types of cap raises that fall under several headings.

The cap raise will not effect the SP. The cash burn and overpaying for the spectrum at auction as well as high debt and Singapore expansion could hurt the SP.

Up to the instos, I will hold and subscribe the cap raise which aint much at under 10% weighting. The reason being this company will massively grow at the expense of earnings , dividend and high debt. Good in a low growth market.

The growth will see TPG's real intrinsic value add around 50% in only 5 years. Up to 100% in 10 years, thats quick growth.
The SP will bull market if debt can be justified by future earnings.

Question is can the board pull these two stunts off at the same time? Very exiting if they do.