That is complete dribble - they are not doing a placement via existing shareholders, the directors don't need to buy more shares. The $100 million will go them, and the company is raising $300 million via a book build.
The directors are selling because they believe the share price is going down, otherwise they would keep their shares and sell at a later date at a higher price.
APT Price at posting:
$24.17 Sentiment: None Disclosure: Not Held
