Anyone see article in the the Saturday AFR?
Sorry, I cant post it.
Nick Scali is referring to his sell down of his stake being linked with the need for a future cap raising for an international expansion or acquisition
. The article says, quoting Nick Scali "If we were doing a capital raising of $300 million it would have been a lot for me to maintain my 27%."
Are we seriously talking about a company of $540 million, that has not issued any stock since listing, suddenly doing a cap raising of $300 million?
All seems a bit weird to me, the sheer size of it. What would be the size of the acquisition if the equity component to support it is this high?
Why throw these sort of numbers out there?
Is this all a smoke screen for a future buyout by KUKA?
We can only speculate.
In the meantime patiently hold - he also said they had 2 to 3 years of good growth in front of them.
Gosouth
(20min delay)