Why is ASIC MIA?, page-3

^ My beef actually isn't with MacB here.. in raising capital on a new listing..
Investors can do what they like with their capital - the risks would have been stated in the prospectus.. right? Somewhere?..that's the risk you take
My beef is what invariably happens later down the track.. what I refer to as "secondary" IPO's.. ie the way capital is allowed to be raised almost annually and eternally down the track with or without the need to issue further prospectus and each time little by little, diluting existing holders as BOD continue to raise outside the shareholder base..
In effect instos and (so called) "sophisticated investors" are allowed to sit back on growth prospects - continually being offered opportunities to invest at discounts on the prevailing SP - without being required to take any holding risk... they can sit back.. wait for announcements etc relating to the raise.. yet not have to take any downside risk owning stock..
All MO but that's my submission to any real BRC (we might ever have in this country..)
But call me sceptical.. I doubt I will ever see one in my life time
Just MO/NA