Ann: Institutional Placement to Raise A$52.9 Mill, page-4

re: Ann: Institutional Placement to Raise A$5... This is a great result and should hold us in a very good position for the rest of 2013, but it got me thinking ...

The talk was a bookbuild between the prices of $1.28 - $1.38.

Now if this bookbuild was so 'heavily' oversubscribed, meaning some people did not get what they wanted, why would one not increase the price of the bookbuild? If the demand was there I am sure certain people would've payed up an extra few cents to get their wanted allocation.

Either the talk was B/S, the announcement of 'heavily' oversubscribed was not really as such, or PIR didn't know how to squeeze out a few extra cents.

Just my thoughts ... any comments?