Yet again the small and loyal investor gets the raw end of the deal.
The timing of the issue would indicate the shares will participate in the final divvy, thereby reducing the dividend by around 10%.
Not only that, the amount to be placed to the retail punter is minuscule. If the company was to set the cap at $15,000 then just 200 holders could participate. Beyond that and a scale-back will take place.
My very early bet is that each applicant will be allocated about $4-5,000. Which should spell a word of caution for any present holders thinking of selling out their assumed allotment ahead of formal confirmation.
MCP Price at posting:
$2.40 Sentiment: None Disclosure: Held
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