They would have lined up a number of Sub-Underwriters to mitigate their own risk. As to what exposure they retained to any shortfall is anyone's guess. The Subbies would have got a cut of the underwriting fee FAR is paying to the Underwriters. Usually the Underwriter will give the Subbies a 50% cut of the underwriting fee.
As to what the Underwriters/Subbies do with their shortfall shares is, again, anyone's guess. The next couple of days will tell the story.
underwriters obligations, page-2
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Last
50.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $46.66M | |||
| Open | High | Low | Value | Volume |
| 50.5¢ | 50.5¢ | 50.5¢ | $14.48K | 28.69K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5356 | 50.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 51.0¢ | 59999 | 2 |
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| Last trade - 15.44pm 12/07/2024 (20 minute delay) ? |
| FAR (ASX) Chart |