My gut feeling is that there were some big players who wanted these shares - as the underwriting fee was a miscrscopic 0.2%, and management fee was 0.5%. Usually you would expect at least 2%. I think there will be a lot of hesitation to sell for under 67c. This has already been the case - considering the panic recently.
I don't think the SP has been manipulated - I think after the cap raise was announced there was genuine interest by big players in getting in on it.
I think we'll know for sure after the new stock starts trading - but the big players probably would have wanted the SP down into the close rather than up, as this would create more leftovers. Not necessarily manipulation - but just no interest in adding to demand you would imagine, until after the close.
So I think this will go up quite a bit
GBG Price at posting:
68.0¢ Sentiment: LT Buy Disclosure: Held
