Probably HFs that are buying LRS and at the same time shorting PLS to profit from the price difference.
Eg buy 1000 LRS, sell short 70 PLS. That would be a net investment of minus 7 dollars.
Only issue is the short intrest on the PLS shares before the deal closes.
I don't see PLS buying on market. That would cost cash instead of the scrip they're offering
LRS General Discussion, page-18762
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Last
18.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $518.2M | |||
| Open | High | Low | Value | Volume |
| 18.0¢ | 18.8¢ | 18.0¢ | $1.230M | 6.659M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 27 | 3208042 | 18.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 18.5¢ | 4120 | 2 |
View Market Depth
| Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
| LRS (ASX) Chart |