Don't want to sound like a conspiracy theorist, but I'm wondering whether the promoters of the cap raising are currently playing their hand to keep the sp in check.
Given that the price for the cap raising would be based on some sort of VWAP on the sp, one would think that the instos that ultimately participates in the raising would prefer a lower entry point now so they can have a bigger bang for their buck once the listing is complete (when all brakes are off on the stock).
The amount to be raised is fixed anyway, so I wouldn't expect there to be any impact on the promoters fees (hence no need to let the sp run up now).
bid ask, page-3
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