Musky. I think there is merit in your two step strategy of first doing a buy back to reduce the discount followed by a capital raising. If the capital raising is still at a discount to NTA it should give existing holders priority.
I love the way Magellan rewards loyal shareholders by issuing bonus loyalty shares to them on capital raisings, the burden of which are funded by the fund manager MGF.
I was really unhappy with BKI after they did a big capital raising to friendly institutions at a significant discount to NTA, which was effectively funded at the expense of long standing loyal holders.
Ann: 2019 Full Year Results, page-34
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$2.27 |
Change
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Mkt cap ! $806.4M | |||
| Open | High | Low | Value | Volume |
| $2.27 | $2.27 | $2.25 | $357.7K | 158.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 9300 | $2.25 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.27 | 30612 | 3 |
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