I think the headline blows things out of proportion. The ECM Syndicate banks overstated demand for a share sale, by the house bid....that the joint lead manager

I think the headline blows things out of proportion. The ECM Syndicate banks overstated demand for a share sale, by the house bid....that the joint lead managers would've been on the hook for anyway (if the demand wasn't there, they had an underwriting backstop). Yes they should've stated the booksizes included the joint lead manager interest but it isn't the as bad as the article and respective comments on here make out. Slap on the wrist at worst i'd say.