It seems that this is not a share purchase plan to the public, but for institutions. Hence, the price was driven down. Usually, the purchase price will be discount 15-20% to the moving average of the last ten day, which I guess will be around 25-26 cents. I thought it will be better to raise money when the operation is near set up, instead of now. For whatever reason, it means more institutional investors will be on board, which is good news.
Ann: Trading Halt, page-490
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Last
3.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $360.2M | |||
| Open | High | Low | Value | Volume |
| 3.5¢ | 3.6¢ | 3.4¢ | $716.1K | 20.41M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 19 | 8111041 | 3.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.6¢ | 12582608 | 29 |
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| SYA (ASX) Chart |