The share price won't be moving for the next week or longer until one of the following happens:
Assuming the average selling insto sells for 50% profit (1.5c per share) and they sell their shares to at least they free carry. (96.6m/150% = 64.4m) We are looking at a sell-off of 64.4m shares. This option isn't accurate as it assumes a profit margin of 50% per share and doesn't include the fact that some insto's may sell their entire holding and doesn't take into account that an insto may not sell at all. Also doesn't include the sell-off by holders who entered in the entitlement issue
1) Insto's may sell to free carry
2) Insto's may sell their entire holdings
3) Insto's may not sell at all.
