Hi all,
It means the company is using a structured process to determine the price and allocation of new shares to raise funds. Here's what this process typically involves:
The company sets a price range for the new shares.
Institutional investors submit bids indicating how many shares they want to purchase and at what price within the given range...Shares are then allocated to investors based on their bids and the company's allocation rules.
This book building method allows the company to:
Efficiently raise capital by matching investor demand.
Achieve optimal price discovery for its shares.
Maximize the spread of investors and overall demand.
Allocate shares transparently and fairly.process is typically managed by an appointed Technical Lead Manager (TLM), usually an ASX Participant Broker, who works with the company to set parameters and manage the book build through ASX's BookBuild facility.
Wonder why. First thoughts is they are setting up for Czechoslovakia, second thoughts they are setting up for the USA.
I said before this to me is not really a spec it's more akin to a bank. We shall see. I believe NZT sees this in a different way as well.
Kpax
(20min delay)