the math is simple.percentage holding went up for wpl because 20...

the math is simple.
percentage holding went up for wpl because 20 million shortfall on raising @ 70 meant less than the proposed amount of shares would now be issued.
ie at total 425 mill on issue wpl have crept to 11% plus.
at total proposed shares on issue should all 57 mill have been put away, 445 million on issue wpl would have stayed with there original percentage holding.
of interest to me is the fact that wpl could have grabbed another 4.75% of hdr,should they have wanted more,and could easily have purchased the 20 million shares by ringing maquarie,intersuisse and cannacord,and saying we will have them,they are a bargain at 70. why not?
they dont want any more of hdr at this point in time,they simply handed over the folding so there blocking stake would not be diluted.