Ann: Enterprise and Apollo Enter into Sale and JV on Fraser Range, page-66

The truth is that raising money from shareholders is documentation intensive and cumbersome and therefore incurs more cost, takes much more time (have to circulate documents for at least a month or so) and the take-up rate is generally really bad whereas doing a placement is quick and can be done in a matter of days. If you are serious about wanting to take part in a capital raising that you think is likely to happen (pretty easy to tell) then call the company and say you want in - most companies will make sure you are included