telstra 3, page-7

I've been reading that if the T3 final price goes as high as say $3.70 there's a real risk of a selloff after the T3 receipts list. In the AFR a couple of weeks ago they talked to a well respected fund manager, MMC asset, and they said most investors who have subscribed would have been expecting a final sale price of $3.50 - around the level the shares were at when the offer was announced. If it's much higher than this they might sell after the stock lists.

So if he is right $3.70 looks like a bad price, and doesn't bode well for stag profit opportunities.