Think about it. How many funds would love to get in and buy this shortfall against the shorters.
If you can outbid the shorters then you know they have to buy back on the market putting upwards pressure on the shareprice.
It will open up how much i dont know and rally for the next 2 weeks.
If the retail bookbuild is or was taken up 90% it could open above $5.00 but AFR are quoting it wasnt i think they might be guessing.
Note the shorters use up more shorts to suppress the share price so the retail holders dont want to take up the entitlements.
Whatever happens its now a screaming buy and if the oil price is up over the next few days even more so.
Its just being played by big money now the shackles are off and the debt is reduced everyone will want to be long Santos.
RE-Open price Friday, page-5
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Last
$7.64 |
Change
0.030(0.39%) |
Mkt cap ! $24.81B | |||
| Open | High | Low | Value | Volume |
| $7.59 | $7.68 | $7.56 | $51.32M | 6.734M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2261 | $7.64 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.65 | 754 | 1 |
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| Last trade - 16.10pm 08/08/2024 (20 minute delay) ? |
| STO (ASX) Chart |