They would, but there are ways around this. You commonly see bidders pop up with 19.99% holdings. Once you want to go beyond 20% you have to make a full takeover offer, or are subject to creeping restrictions (no more than 3% every 6 months).
The ways around it are by acquiring 4.99% (no disclosure required), then acquiring as much as you can off-market (merchant + garner), then cash settled equity swaps are commonly used to top up to 20% while remaining undetected, and then if required you can also use the benefit of T+2 to acquire more given you disclose after settlement.
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Last
$1.86 |
Change
-0.080(4.12%) |
Mkt cap ! $315.1M |
Open | High | Low | Value | Volume |
$1.95 | $1.95 | $1.84 | $367.9K | 195.0K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 3965 | $1.86 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.87 | 1917 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 3965 | 1.855 |
1 | 1000 | 1.850 |
3 | 6900 | 1.845 |
2 | 60374 | 1.840 |
1 | 900 | 1.835 |
Price($) | Vol. | No. |
---|---|---|
1.865 | 1917 | 1 |
1.870 | 22000 | 2 |
1.875 | 250 | 1 |
1.880 | 2865 | 2 |
1.885 | 2800 | 2 |
Last trade - 12.33pm 15/07/2024 (20 minute delay) ? |
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