Really low issue price, $1.20 is a massive discount to last traded and to TERP of $1.70. If it trades at $1.44 it will have the same market cap as pre-raise just with ~$180m (after costs) less debt.
This just highlights why the price of $1.20 is way too low a discount to the theoretical ex rights price (TERP) of $1.70. Underwriters are getting fat checks here for not really taking on risk imo.
I will be applying for that extra 25% top up, it is a shame they didn't allow for a higher percentage here for retail holders to top up, further insult is the underwriter has discretion to reject top ups, wtf?
ACL Take Over Proposal Wishful Thinking, page-19
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Last
$1.46 |
Change
-0.020(1.35%) |
Mkt cap ! $1.076B | |||
| Open | High | Low | Value | Volume |
| $1.48 | $1.50 | $1.46 | $2.055M | 1.388M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 21007 | $1.46 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.47 | 30916 | 43 |
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| Last trade - 13.07pm 27/06/2024 (20 minute delay) ? |
| HLS (ASX) Chart |