With that deadline approaching, market sources told the Business Herald late last week they expected an announcement early this week.
"We think it's a rights issue, possibly with a cornerstone shareholder in it and most likely looking to raise $150 million to $200 million," one source said.
The organising broker was said to be First NZ Capital, which on Friday declined to comment. ___________________________________________ My bet is that the shareprice will shoot up to NZ 52-55 cents today, now a solution looks around the corner. The uncertainty has been killing the sp.
I believe this might become a good short-term punt. But please consider my signature. It fully applies to me.
FPA Price at posting:
26.6¢ Sentiment: Sell Disclosure: Held
