If your information is accurate, it means that Lynas will issue new shares to specific investors under ASX Listing Rule 7.1 (15% capacity) without shareholders' approval. Few months ago, Lynas would have used the facility under ASX Listing Rule 7.1 up to 106.19 million (see Lynas announcement). The maximum 15% capacity is equivalent to 294 million shares. The remaining balance of shares which can be issued to specific investors would be 188 million (i.e. only 8 per cent). If the offer price is $0.08. Total proceeds from specific investors = 188 million x $0.08 = $15.04 million.
Right issue = 2,333 million/18 x 5 x $0.08 = $51.8 million. Total proceeds = 15.04 + 51.8 =$66.84 million.
Good news. It will be insignificant dilution (only 8 per cent) if shareholders subscribe the right issue.
Gain or loss is in your own hands. This is not investment advice. DYOR.
Capital Raising immnent, page-87
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Last
$6.10 |
Change
-0.160(2.56%) |
Mkt cap ! $5.701B | |||
| Open | High | Low | Value | Volume |
| $6.14 | $6.16 | $6.02 | $31.69M | 5.119M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 23252 | $6.09 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.10 | 23221 | 2 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| LYC (ASX) Chart |