When is an underwrite not an underwrite ?
Quote:
Originally Posted by
Balance
Very very bad sign of how the sub-underwriters are standing back from putting up their hands this time to fund the desperate capital raise imo.
FNZC would have worked out the scenarios and know that if the rights are freely traded, the sp will go down to 32.1c as shareholders bail out.
So best to keep the exit door shut, support the sp and all the way to 35c, and then try to suck in some new institutions with 'it is going to happen this time!'.
If FNZC is not charging $1.5m to $2.0m to support this capital raise, it will be a huge surprise!
Well said mate.
Quote:
Originally Posted by
blackcap
Well called, although looks like you are out by 1 cent. The bids at 36 for 300k are I think the fearful underwriters wondering if 32 is low enough.
I wouldn't mind having a bob or two that the usual force majeure clause has been especially re-written for this underwrite.
If people are silly enough to believe they will finally break even this time, (wait we really mean it this time)..(its too early for a Tui yet) then I doubt any of the sage and wise old heads on here would be able to convince them otherwise so I will simply wish them good luck.