I bought ALZ this morning at 64c, having never owned them...

I bought ALZ this morning at 64c, having never owned them before. Main reason is that I smell an interest rate cut from the RBA coming quite soon and once rates start falling, it will lift sentiment towards financials and property stocks. Having trawled through the market looking for stocks that are extra cheap and will benefit from falling interest rates, ALZ stood out.
By the way, my read is that all (ie 100%) of the institutional stock offered was taken up by instos. There were some who were entitled, but didn't take up that entitlement - that left over stock was offered to other instos in a bookbuild and was all taken up (at 60c clearing price). Same process will happen with retail entitlements - any not taken up at 60c will be offered to instos in a bookbuild at that time.