retail entitlement offer, page-3

They were expecting to raise $4m in the retail offer. Any shortfall will be subject to a Book Build next week and offered to the instos who paid $0.45 in their own build a month ago.

It will be interesting to see how the instos now view the orffer approx. 9m shares) when they are underwater on their investment.

Big question is whether they will be able to get the $0.45 next week. You can kiss your premium goodbye.

You'd expect they'll need to have a pretty decent bedside story to get you to stump up a 25% premium to the market price.