Best case - oversubscribed- allocating now and struggling to decide to reward small unmarketable parcel holders or medium sized holders with decent allocation ratio. Usually larger holders are discounted especially when price has dipped below issue as they had opportunity to top up on market.
Next best case - Oversubscribed and manually checking register and ensuring short holders don't get them to cover. Whoops - shorts closed so they got their fill on market or in soph issue so now no price tension.
Middle case - They hold over on undersubscription and issue/ place to soph mates after price has some momentum.
Worst case- undersubscribed and so desperate to save face or need cash they offer to spiral debt funder
Possibility - registry didn't sort out full processing or delay in Management confirming allocation of scaleback .
Unless there is movement on news IMO again management is relying on loyalty of sticky small buy and hold retail holder " believers" well down to take up issue to average down and not notice the large overhang and games to follow from IMO spiral debt funder.
If no supporting announcements before quarterly then they may be using it to " clear the decks" and move everything positive to next quarter ?
Guess it will; be seen when allocation comes out or people comment saying they have been offered more but same old problem without broker involved supporting price who is doing the call round unless they have a party on sideline willing to take em up ? Why would you delay release of oversubscription ,allocation or scaling or shortfall??? hmmm
(20min delay)