will the lion roar, page-13

re: underwriters happy to pick up lots of shares My guess for what it's worth:

I reckon Ms Ling Gu is the principle underwriter. She already holds about 13.1% of the stock and has a director on the board (new Chairman).

About 19% of the offer was taken up. That leaves a shortfall of 81% or approximately 40% of the issued capital of LIO. If Ling Gu takes up the shortfall then she is going to be a big, big shareholder.

The offer was only open for a short time and the Company did not extend it, as they might do if desperate.

Is a takeover in the air???