I've heard a few instos are watching very carefully. There will...

I've heard a few instos are watching very carefully. There will no doubt, be some on-market buying by them which should mop up some of the 270,000,000 tradeable shares out there. Also I believe these instos are, by and large, pretty disenchanted with the local offerings.
When you think about it, there's a huge difference in culture when TST is compared to, say CUS or ICP. CUS for example might have 5000 clients/siteowners owning 5500 sites whereas TSN (currently) has only 4 clients owning 350 sites. Whilst their list of clients/siteowners will not grow drastically, their sites certainly will.
Put simply, CUS, ICP etc are retailers and TSN are wholesalers.
All imho