Non‐renounceable pro rata entitlement is my preference over other types of raisings.
Why is that? An SPP would have allowed we pleb shareholders to purchase up to $30k of shares. Pro rata is deliberately designed to limit the quantity of shares plebs can purchase, and making it non-renounceable further limits the number of shares going to plebs. To me this raise is clearly designed to transfer wealth from long-suffering shareholders to the instos.
The price looks good, but I think it was deliberately sold down from 30c by the instos, for the reasons mentioned above.
Ann: Trading Halt, page-5
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34.5¢ |
Change
-0.010(2.82%) |
Mkt cap ! $2.346B | |||
| Open | High | Low | Value | Volume |
| 36.0¢ | 36.0¢ | 34.0¢ | $5.997M | 17.21M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 35 | 2367829 | 34.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 35.0¢ | 656508 | 8 |
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| RED (ASX) Chart |