I would be surprised if SDL was swamped with buyers for the spp only because the 15c price is just 6% above its current share price. Not much a bargain and its possible the privce will slip below that should the Dow have a few red days.
If I wanted to buy SDL at the moment, Ii would happily pay 16c, knowing I could buy as many as I want. Those who go through the spp are in a lottery of not knowing how many they will end up with.
I get the impression management are just doing the spp to ensure local holders dont cry foul over missing the 15c offer made to the new European buyers.
SDL Price at posting:
16.0¢ Sentiment: LT Buy Disclosure: Not Held