Where Arrium went very wrong

One damaging misstep explains how an issue from a company as well regarded as Arrium, pitched at a 26 per cent discount, could be trashed so badly along with its share price.

What looked likely to be the first of a number of iron ore price-influenced capital raisings may well, because of its performance, turn out to be both the first and last. Arrium’s $754 million equity raising hasn’t gone well.

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