Let me help you out. Check out what happened last time they did the SPP. They made the SPP shares a different class of shares because these SPP shares can only get half the dividend so they are not as good as the normal MIR shares. So last time the SPP shares traded under the code MIRNA. So you can look back and compare the difference between MIRNA and MIR to give you an idea of the discount that MIRNB could trade at. MIRNA traded at a bigger discount than the theoretical value because not many people were willing to buy it I guess.
To answer your question about who can buy MIRNB? Anyone in the world with access to the ASX market can buy the MIRNB but they may not be that liquid and they may trade at a significant discount to MIR because MIRNB may not be as popular as MIR and it could trade quite weakly because the MIRNB code will be filled with people who just want to sell with not many buyers around, so that would lead to more selling pressure than buying demand.
If however, you are patient enough to hold MIRNB until after the dividend in 3 or 4 months then MIRNB will become MIR after the dividend.
MIR Price at posting:
$3.31 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)