If the share price is weak/continues to decline, it will probably put a large number of retail holders off taking up a 3 for 1 rights offer. Obviously renounceable rights can either be taken up, sold (if there is value in them), or lapse. Sinar Mas is underwriting $300m of the rights issue, so pretty clear what the intention is here.
Call me a sceptic but it wouldn't surprise me at all if the share price is pushed down to even below the rights issue price.
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Last
$1.92 |
Change
0.030(1.59%) |
Mkt cap ! $1.730B | |||
| Open | High | Low | Value | Volume |
| $1.92 | $1.94 | $1.86 | $4.506M | 2.360M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 13516 | $1.91 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.93 | 5572 | 2 |
View Market Depth
| Last trade - 16.10pm 24/06/2025 (20 minute delay) ? |
| SMR (ASX) Chart |