RYG general topics, page-669

That is a bit simplistic. Imagine all of the sudden there was 320M on the sell side (company issuing shares).
That's one of the reasons why there is a discount, not because there is 320M on the buy-side.
One other reason is that they want this over & done with, success rate is higher when offering shares with a discount to the trading average.
Fingers crossed there will be 320M on the buy side with how things are now going and current market sentiment.