Mice00, having been around the traps a bit. This is one of those...

Mice00, having been around the traps a bit. This is one of those classic "greenshoe" floats that occur if a company has a large enough cap to make it in the top 100 mkt cap . In the urgency to please all the index fund managers the lead brokers issue more of the stock to the institutions than exists then buy it back to "cancel" the shares during the delayed settlement period......hence the "artificial" demand on the first few trading days/week while second and third teir index managers miss out on all their allocation they are buyers on market as well........and the massive herd on the ASX of SMSF money unadvised who just buy labels...this also gives a chance to many big players to sell at a healthy profit during the delayed settlement period...

Since all this is run from offshore domiciled ASIC have no chance chasing these guys down. And I dare say even if they did the firms doing this could say due to administrative error they issued more shares than they had allocated...