I've taken place in 3 placings/fundraisings in recent times, oxus at 10.5p, cer at 115 (equivalent) and cmr at 7p then 9p and the price on all three fell leading upto the placing, as people either sold to fund their new shares, or manipulated the price down to get the issue away succesfully.
Mixed results on those three now. Oxus gone from 10p to 80p, CER 115 to 370p, cmr still languishing at 10.5p.
I just think that the accompanying statements are so strong that this could be another recovery just like oxus. People who took place in fundraising are all aware that news is due "in the next few weeks" so Id presume they'd hold and sell on good news spike if they want to take profits.