Is everyone clear on the process?
My understanding is:
- the entitlements NOT being taken up by institutional shareholders go into a pool and basically "auctioned" via a bookbuild process to other institutions and brokers
- if the bookbuild/auction price is greater than the $1.45 issue price, the surplus is paid to the shareholders who chose to pool rather than take up their rights.
- Blackrock and Baker Steel have an upper limit of $1.98 in the conditions for them to take up their portion of the Newcrest entitlement.
Lets say the price ends up being around the current EVN share price of $1.70. That would mean a return of 25c for each right left in the pool.
We then go into normal trading for a couple of weeks, before the process starts again for us retail shareholders. If the first institutional bookbuild goes well, there should be strong demand by funds wanting a position and we could see a higher price set.
So we need a strong result/ high price set today (announced today or before open on Monday), followed by some good news over the next 2 weeks.
I'm considering how many of my rights I will take up. But a cashback for Xmas has some definite appeal too.
- Forums
- ASX - By Stock
- EVN
- entitlements offer
entitlements offer
-
- There are more pages in this discussion • 23 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add EVN (ASX) to my watchlist
|
|||||
Last
$3.97 |
Change
-0.090(2.22%) |
Mkt cap ! $7.883B |
Open | High | Low | Value | Volume |
$4.05 | $4.06 | $3.93 | $37.04M | 9.267M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 5000 | $3.95 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.97 | 33882 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 32 | 4.160 |
3 | 19 | 4.070 |
1 | 66 | 4.020 |
1 | 130 | 3.970 |
3 | 1534 | 3.960 |
Price($) | Vol. | No. |
---|---|---|
3.850 | 263 | 3 |
3.970 | 7530 | 1 |
3.980 | 7530 | 1 |
3.990 | 13847 | 3 |
4.000 | 7883 | 2 |
Last trade - 16.10pm 15/08/2024 (20 minute delay) ? |
Featured News
EVN (ASX) Chart |
The Watchlist
I88
INFINI RESOURCES LIMITED
Charles Armstrong, CEO & Managing Director
Charles Armstrong
CEO & Managing Director
SPONSORED BY The Market Online