Bankers see red over BookBuild halt

A number of choice adjectives have been used to describe the ASX's decision to grant WAM Capital a two-day trading halt.

BANKERS are, at times, a sensitive lot. A number of choice adjectives have been used to describe the ASX's decision to grant WAM Capital a two-day trading halt to allow it to sell just 8.3 million shares on the new ASX BookBuild facility.

"It smells," was the view of one banker, with the ASX's new facility threatening his business by charging companies just $25,000 to raise money. But that's not the point, says the banker, eager to vent his spleen.

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