Bring on the ASX Bookbuild

I upset a few people with my comments in Sealink Surge Due on Debut. Tuesday afternoon was spent fielding calls and emails from very unhappy brokers. Despite their consternation, it hardly registered with Bristlemouth readers: ‘So they look after their big clients at the expense of other shareholders, tell me something I don’t know’. True. It’s hardly top secret information. But still something should be done about it. Any substantially oversubscribed capital raising is a mispriced capital raising. Why do we even have this process where a board sits down with a dubiously incentivised investment bank to set the...

I upset a few people with my comments in Sealink Surge Due on Debut. Tuesday afternoon was spent fielding calls and emails from very unhappy brokers. Despite their consternation, it hardly registered with Bristlemouth readers: ‘So they look after their big clients at the expense of other shareholders, tell me something I don’t know’.

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