if they are going to invest $3bn then that sounds like a right issue....which will dilute current shareholders in the short term ......
even with the opportunity for current shareholders to participate
the rise in the SP seems to be a result of:
a). FMG securing working capital
b). mistaken assumption this is a takeover ala RIO ....
a 10-20% discount to VWAP would put a rights issue somewhere around $2.60ish .....
hunan valin may invest a$3 billion in fmg, page-5
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Last
$16.55 |
Change
0.250(1.53%) |
Mkt cap ! $50.95B | |||
| Open | High | Low | Value | Volume |
| $16.50 | $16.58 | $16.31 | $81.85M | 4.973M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 23 | 9511 | $16.54 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.55 | 10445 | 29 |
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| Last trade - 13.54pm 12/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |