When SLX announced there would be an SPP the price was above $5.00, and they had just raised $120 million @ $4.05. So my guess is that they announced the SPP to let existing shareholders buy at the same discount. Then the share price dived, and now that they have announced the SPP they have to go through with it.
Unless the price gets significantly above $4.05, I can't see why they would raise any money from it. Just some paperwork for the share registry.
Ann: Share Purchase Plan Offer Booklet, page-15
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Last
$5.06 |
Change
-0.110(2.13%) |
Mkt cap ! $1.200B | |||
| Open | High | Low | Value | Volume |
| $5.18 | $5.25 | $5.00 | $2.306M | 453.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1980 | $5.05 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.06 | 199 | 1 |
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| SLX (ASX) Chart |