In my experience, I am yet to see an extension in a SPP or Rights Issue end up with strong subscription from the shareholders. In fact most extensions are because the take up is poor and the underwriter is pressing for extended time to mitigate their risk.
In this case, the SPP is not underwritten. I watch with interest on the outcome.
If this does not achieve the desired capital injection, I guess they could announce a new strategy !!
In my experience, I am yet to see an extension in a SPP or...
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