$80m at 13.5c (23% discount) is ridiculous.
Current market cap is $489m so assuming the SP retreats to the 13.5c raise price it will fall to $377m + $80m raised = $457m.
Assuming there is not much cash left hence the capital rasing net debt post the raise will be cica $75m ($165m debt - est. $90m cash) so would could see an enterprise value of around $532m post the capital rasing assuming the SP falls to 13.5c. The enterprise value on the 23rd Jan according to their quarterly report was $809m. So the value of our business stands to fall $277m (34%) in 4-6 weeks... wow.
Again assuming the SP falls to 13.5c and stays thereabouts for 30 days in order for the 30 day VWAP to be 13.5c a takeover is highly likely IMO as we'll be cheap and the register will be full of disgruntled shareholders. A takeover at 19c post capital raise will get the job done IMO.
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Last
40.8¢ |
Change
0.008(1.88%) |
Mkt cap ! $2.737B |
Open | High | Low | Value | Volume |
40.0¢ | 41.5¢ | 39.5¢ | $6.687M | 16.45M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
24 | 251638 | 40.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
41.0¢ | 1975131 | 54 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
24 | 253722 | 0.405 |
45 | 1888505 | 0.400 |
22 | 1240321 | 0.395 |
27 | 742744 | 0.390 |
17 | 693183 | 0.385 |
Price($) | Vol. | No. |
---|---|---|
0.410 | 1975131 | 54 |
0.415 | 1631796 | 27 |
0.420 | 673582 | 26 |
0.425 | 698562 | 19 |
0.430 | 1839351 | 14 |
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