spp price & success, page-4

My guess is that SPP was undersubcribed.
Reason being that with the share price trading so close to the issue price there was no real incentive to buy.
I know there was a discount depending on the VWAP but the average shareholder would probably not take that into account.
I hope that I am wrong and the IDL holders maintained the faith because this was the only SPP that did the right thing by its shareholders and not hand the institutions an instant profit using our money.