it may (or not) get to that mark before the rights issue is closed, simply to act as a deterrent to take up.
fosters slapped a 3.85 valuation on ioh back in feb and as underwriter may see this as an opportunity to collect a parcel for the house/select clients at 1.60 considering there is no placement component of this cr.
interesting to note though that (somewhat) significant support has lined up since hitting 1.70
IOH Price at posting:
$1.76 Sentiment: None Disclosure: Not Held