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9.7¢ redflow limited

Ann: Redflow undertakes capital raising to deliver on growth, page-10

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Meledath

2,780 Posts.

190

08/06/23

11:38

Post #: 68192638
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Originally posted by Andrix: ↑

The absence of an institutional offer is interesting, especially as the rights will not be listed on the ASX. This could indicate:

A) The bookbuild resulted in little interest (if there was a bookbuild), or

B) Directors and key shareholders hold significant number of shares and do not want their holdings diluted. (And Simon may have prepared for this when he sold a significant number of his holding). The Ann. says "...eligible Company’s Directors have each agreed to participate in the Entitlement Offer." Note the "each", but it does not say what part of their entitlement.

I'm opting for B) as the likely possibility, but then I'm an optimist.

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it is well planned to reward long term holders including Simon H, your assumption is probably right...
there was no institutional bookbuild as far as I understood
now long term holders can't complain they didn't get chance (in a watershed moment for the company)
presentation states another 19 MWh project is coming soon to take it to 39MWh

best time to buy cheaper in my view

RFX Price at posting: 20.5¢ Sentiment: Buy Disclosure: Held
4 Upvote

0 Great analysis

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