Due to TH to announce APIRx acquisition I think any new buyers lost the chance to get in just before record date. Ditto for sellers who may have planned to sell high and buy low through oppie conversion or expected price falls (due to oppies). So I think there would be a number of people wanting to buy IHL before record date and didn’t get an opportunity have no other way but to buy on market now. However given the oppies, the SP will likely be subdued (40-50c range?) until conversion happens on 22/4 after which SP can rise again.
With a billion shares on issue, how many holders would need to sell heads to convert the oppies? May be quite a few if they don’t have much liquidity, especially if they hold significant positions in IHL it may be time to book some profits and also get about 40% cheaper shares thru oppies.
If there are new anns dropping in interim that might help SP and may give pause to people looking to sell heads to convert and they may instead find some spare cash under the couch or sell other shares instead of IHL.
All IMO. Let’s see how the next fortnight plays out.
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