The insto part of the CR was heavily oversubscribed and only 6% of shares offered so no chance to get 10% or even close to it.
The updated article in the AFR clearly comes across as another miner is the buyer - they speculate it maybe RMS - based on recent activity Penny West, WGX, Musgrave, etc this approach, if it is RMS, is quite unlike their past M&A approach and when they are sitting on $600m in cash why only bid for 10% or even 20% and say will not be making a TO bid?
If Aust fund managers are saying no and Tembo are not interesting in anything below $1 the bidder may struggle to get to 10% which would be good for the SP.
8.6% is not much of a premium.
While I may be way off I won't be surprised to see this go materially above 90c today! Why because it is clear there are players wanting to buy SPR - speculation has been around for months it will be taken over. Many investors will want to buy SPR as they will be assuming a TO will come as some stage at a much higher price. Happens a lot once a bidder shows their hand. Will other bidders emerge?
only 90c?
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Last
$1.33 |
Change
0.030(2.32%) |
Mkt cap ! $1.466B |
Open | High | Low | Value | Volume |
$1.30 | $1.33 | $1.30 | $5.495M | 4.179M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 28529 | $1.32 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.33 | 288685 | 9 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 25939 | 1.315 |
7 | 59139 | 1.310 |
1 | 12258 | 1.305 |
7 | 87179 | 1.300 |
4 | 37262 | 1.295 |
Price($) | Vol. | No. |
---|---|---|
1.330 | 288685 | 9 |
1.335 | 105000 | 2 |
1.340 | 30800 | 4 |
1.345 | 62000 | 3 |
1.350 | 254560 | 14 |
Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
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SPR (ASX) Chart |