"Insto's will already be overweighted in the stock so will only...

"Insto's will already be overweighted in the stock so will only fulfill underwrite obligations."

And how do you know they are overweight?

Many of the interviews with analysts and managers in the lead up to this float suggested they are indeed underweight. Reports after the bookbuild also support that most institutional buying was from overseas and local institutions were not enthusiastic.

I think this leaves a lot of buying potential.

Have a look at the market depth, first bid at $2.55 for a mere 2,500,000 shares!

Someone must be underweight!