Jump on QAN below the rights issue price of $4.20 for a sure winner.
There are too many vested interests to make sure the retail sector take up their $200 mio chunk of the issue.
QAN need the money.
The underwriters are probably already in the bad books of QAN for not allocating the institutional allocation more prudently - viz. the way the insto's took the profit and ran. The underwriters know that unless they can get the price of QAN back up then there is no way QAN will invite them into future fund raising's.
The insto's for their part have shot themselves in the foot - locked in about 20c profit on their allocation, yet crucified the holding value of their existing stock.
To be sure, QAN will make a solid recovery - one way or the other !!!!
