paprika, why would the market devour everything below $2.50? The $2.50 is an optimistic price put on the RI by the company. The market won't take any notice of that, but just trade as it normally does. If anything, the market may wait and see if they can pick up so cheap shares from the underwriters as it doesn't look like the sp will hit $2.50 by the allotment date anyway.
And if the RI is a flop, and the company doesn't get the loan facility, the sp will plummet - another reason for the market to be cautious.
