17% dilution piling on another $2b.
These are crazy numbers.
If they could maintain previous earning then EPS would have taken a hit, but not the end of the world.
But now when an analyst plugs in a substantially reduced (normalised) profit number across that many new shares and its a blood bath IMO.
No way would I even buy this at $4.
10x
Ann: SYD $2bn Equity Raising and 2020 Half Year Result, page-9
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