The increase in the institutional issue size increase the total number of shares in issue thereby diluting the % ownership of existing shareholders. Given the t large increase in EPS that the acquisition delivers, retail shareholders will need to acquire more shares to maintain relative ownership.
The counter view is that CYG will have $5m less debt, albeit that debt financing is cheaper than equity financing.
Ann: Coventry Launch announcement, page-4
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Last
$1.37 |
Change
-0.045(3.19%) |
Mkt cap ! $159.4M | |||
| Open | High | Low | Value | Volume |
| $1.37 | $1.39 | $1.36 | $52.75K | 38.72K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 18000 | $1.36 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.42 | 3075 | 1 |
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| Last trade - 16.10pm 30/07/2024 (20 minute delay) ? |
| CYG (ASX) Chart |