I'm okay with the discount. They obviously had to give it a decent snip to ensure the thing was fully subscribed. In any event they have raised the cash and are now ready to head into the future with a decent bank balance.
This is the same BoD who cancelled shares to protect shareholder value, I'm not sure we can be completely scathing of them for giving the SIs a healthy discount and ending up oversubscribed. Of more importance is the hope that they placed them in the hands of investors who are going to hang around, rather than taking a quick profit.
UTR Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
