They would, but there are ways around this. You commonly see bidders pop up with 19.99% holdings. Once you want to go beyond 20% you have to make a full takeover offer, or are subject to creeping restrictions (no more than 3% every 6 months).
The ways around it are by acquiring 4.99% (no disclosure required), then acquiring as much as you can off-market (merchant + garner), then cash settled equity swaps are commonly used to top up to 20% while remaining undetected, and then if required you can also use the benefit of T+2 to acquire more given you disclose after settlement.
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Last
$1.61 |
Change
0.165(11.5%) |
Mkt cap ! $273.4M |
Open | High | Low | Value | Volume |
$1.46 | $1.61 | $1.46 | $245.3K | 161.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 229 | $1.57 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.63 | 1226 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 229 | 1.570 |
1 | 40000 | 1.560 |
1 | 533 | 1.530 |
1 | 4000 | 1.520 |
1 | 6000 | 1.500 |
Price($) | Vol. | No. |
---|---|---|
1.630 | 1226 | 1 |
1.640 | 12136 | 1 |
1.650 | 12920 | 2 |
1.690 | 585 | 1 |
1.750 | 14309 | 3 |
Last trade - 16.10pm 12/08/2024 (20 minute delay) ? |
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