Dorado Sell Down to Fund Development Capital raise done. Disappointing that there wasn't a retail component, either SPP or rights Would have been much worse if Pavo was a duster - so thank your lucky stars.
Sell down to come according to announcements, and sounds like it could be imminent. Pre-or-post Apus result is the question.. Deal price should give a look through valuation for CVN which shouldl be interesting.
Based on offers they received, they may have decided to hold onto a larger chunk of Dorado by doing a Capital Raise. In other words, current shareholders are better off with the CR dilution and holding onto a bigger slice oi Dorado rather than selling a larger interest in Dorado with a smaller or no capital raise.
Sell down price may allow us to answer that question..
CVN Price at posting:
31.5¢ Sentiment: None Disclosure: Not Held
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