RE:RE:So… Large sovereign wealth fundjdsd0517 wrote: Not as hard as you think it is...(and yes, I have direct experience in this area)
BTW, they don't actually have those orders yet. Per the press release: "The Company has received indications of interest for lead orders in connection with the Offering from a large International Sovereign Wealth Fund and Hong Kong businessman and investor Mr. Li Ka-shing."
There is distance between "indications of interest" and investment. WELL isn't a bad company, but this is the kind of BS that makes real investors shake their heads, and reTaIl investors get all hot and bothered.
just for clarity here. the investment banks did a bought deal - they bought all the shares and are marketing them.
when an investment bank markets a bought deal or even a best-efforts underwriting, clients orders for the issue are called
indications of interest or expressions of interest because the client isn't guaranteed to get everything they order. they investment banks allocate to clients as they see fit.