Firstly, the SPP is closed now.
Secondly, I posted a clear argument a few days ago why I subscribed to the SPP.
It all has to do with expectations of what will happen to the SP *after* the SPP. If it fails, then I expect the SP to drop - so I don't really want the shares. If I bought on-market, I'd be stuck with them, but if the SPP fails, I'll get my money back.
On the other hand, if the SPP passes, I expect the price to increase, and the difference between 8.1c and 7.5c (or whatever) will not be meaningful.
Think of it as an insurance policy against the SPP failing.
VCR
ventracor limited
