Correct,
The instos get the stock the other shareholders dont pay for. Keep it just below 40 and not many of the other shareholder will take up their rights and they then go into the book build which of course will be done at 40 cents.
Insto have turned a rights issue for all into a gigantic cheap placement to themselves.
Perfect crime.
short selling, page-6
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Last
23.0¢ |
Change
-0.005(2.13%) |
Mkt cap ! $188.1M | |||
| Open | High | Low | Value | Volume |
| 23.5¢ | 24.0¢ | 22.5¢ | $761.4K | 3.313M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 14 | 605220 | 22.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 23.5¢ | 766902 | 5 |
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| Last trade - 16.10pm 16/07/2024 (20 minute delay) ? |
| SBM (ASX) Chart |