Extract from recent announcement on capital raising (28/11/2007):
“After taking into account the firm allocations to be made to Peter J Woodford, the shortfall under the Rights Issue was 17,961,688 shares. The shortfall has been taken up by existing shareholders who applied for additional shares under the Rights Issue and the underwriters�
Can someone tell me why the underwriters got in on this action, when existing shareholders did not get all they asked for?
Should existing shareholders not have priority?
capital raising allocations
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