Massive market overreaction here. Even if management GAVE away the placement shares for nothing, the SP should only drop 12% on the news.
I think that it may be the result of a large number of American investors on the share register, American shareholders are known for their hatred of capital raisings.
I've been on a buying spree all morning.
Ann: $120m Equity Raise and Share Purchase Plan, page-34
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Last
$4.22 |
Change
0.010(0.24%) |
Mkt cap ! $999.6M | |||
| Open | High | Low | Value | Volume |
| $4.31 | $4.37 | $4.20 | $3.035M | 710.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1660 | $4.22 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.26 | 2500 | 1 |
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| Last trade - 16.10pm 06/08/2024 (20 minute delay) ? |
| SLX (ASX) Chart |