Well - the announcement was on the 10th of September and CDU...

Well - the announcement was on the 10th of September and CDU traded as high as $2.33 - 2 days later on the 12th of September - Given the last big placements were done at $3.45 - $2.50 now and with what amounts to an interest free loan for 2 years on the remaining share option signals a desperate need for further cash to me given they said that more dilution wasnt in shareholders best interests just 7 weeks ago - Why didnt they just get a $200m line of credit from Minsheng at 7 % -

The flip side of this is if the big 3 Chinese take up their full entitlement and the underwriter does get the full $50m of any shortfall the Chinese dominance on the register will be above 50% and control of the board could be lost at anytime in the future.

While the retail punters for the first time do get equal footing in % terms with big guys the raw shareholding numbers of the big 3 share holding clearly makes them the huge winners in this deal.


hOOt