what you are missing is that it is not the capital raising that causes the price to rise, but the purpose of the raising. So if Flexi had said it was raising money to launch into England, or it was acquiring a company to give them a platform for expansion, then the price would have gone crazy. As it is we are giving them money with no knowledge of what it’s for apart from it gets rid of corporate debt.
The Entitlement Offer/eligible shareholders, page-20
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