Well my theory is institutional investors know this is bargain cheap. They purchased all allocated to institution offer. They also have opportunity to complete retail offer it doesn't get filled under retail offer...
so, if the share price gets closer to 9c, retail holders won't likely want to buy more in case it goes down further... institutional investors will then be able to purchase LARGE amounts at 9c under retail offer...
So don't be surprised if this goes down further... but if it does, then don't be in a rush to sell if you are a holder IMO.
after all the offers are done and dusted, institutional investors will take it up imo.
SXL Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
