Ann: Trading Halt, page-26

Anything could happen.

FNP just did a $200M cap raise @$4.80 a share - trading now at $5.90, and never got anywhere near the cap raise price, post cap raise, (glad I got into that one!). If the market thinks the capital is being used to accelerate growth in a growth business, then this can happen. Share price usually drops to or below cap raise price if the market doesn't like something about the reasons for the raising and the intended use of the capital.