Quote Originally Posted by Balance View Post
And Auckland Council decided to pass - getting diluted to 18% and missing on any upside of the placement shares.
Who knows, they just might have been clever (or lucky?). I could well imagine scenarios over the next 12 months which will push the SP lower.

Discl: got an offer to participate in the bidding but decided not to. Pretty sure there will be better opportunities later on in the game.