They don’t need the money and the founders selling doesn’t help PME.
This is seemingly a response to funds wanting a stake but can’t get the stock.
Better to issue 10 million new shares as it puts money into the company and still maintains the founders majority stake.
The last time the founders sold at the behest of investors marked the high for some years.
Ann: Company Announcement - Interim Results, page-5
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Last
$200.00 |
Change
1.940(0.98%) |
Mkt cap ! $20.89B | |||
| Open | High | Low | Value | Volume |
| $199.92 | $200.50 | $193.79 | $49.19M | 247.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 31 | $199.80 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $200.05 | 75 | 1 |
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| Last trade - 16.10pm 07/11/2024 (20 minute delay) ? |
| PME (ASX) Chart |