IHH IPO: Can placement orders by institutions be withdrawn

TheExtraKid93 wrote:

Re Thread: IHH IPO
chances of getting it is extremely low, latest news was 60x oversubscribed, maybe currently rise to 65-70 already

Out of curiosity, is it possible for the ppl behind IHH to 'rig' the news by making institutional placement orders then retracting them (this would of course affect institutional credibility, but this is of no consequence if nobody investigates).

Of course 60X over-subscribed sounds fantastic but for academic discussion, can such placement orders by institutions be withdrawn before the allocation date arrives for the purpose of rigging the share demand?

That said, according to SERIOUS Investing: IHH IPO: Where's the beef?, only ownership of 27.17% of the company is being 'auctioned' to bidders during the IPO, I assume that existing share holders, Khazanah Mitsui, Abraaj Capital and the Adlinyar family [% for sale info also at alt.site] own the rest of the 72.83% of the shares, which consequent to the IPO, will ALL be floated on the MSE and SGX.
So although there might be strong institutional demand for the 27.17% of shares on sale; and notwithstanding the 180day compulsory holding period large institutional investors must abide to in this IPO, could I also ask if the main share holders could sell their stakes (the 72.83%) on the first day of the opening for a tidy profit and so crash the share price? Khazanah will of course NOT do this considering the coming M'sian elections, however, can the same be said about the other existing share holders (Mitsui, Abraaj Capital)?

Just curious,
C6.

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09July2012: IHH IPO