Whatsnext: >> find some strength once the entitlement offer has...

Whatsnext: >> find some strength once the entitlement offer has closed and out of the way or just the opposite if the take up is not good <<

Once the entitlement offer has closed PGL/PGLA is likely to go higher IMO.
The take up rate may be lower than first expected, however, with the issue being fully underwritten and sub-underwritten, the company will receive the funds and be in a very strong financial position going forwards.

Will the underwritten shortfall present an overhang ?
I don’t think so since many of those who wanted to subscribe were scaled back in allocations.

Further announcements may see the situation change fast.