Is everyone clear on the process?
My understanding is:
- the entitlements NOT being taken up by institutional shareholders go into a pool and basically "auctioned" via a bookbuild process to other institutions and brokers
- if the bookbuild/auction price is greater than the $1.45 issue price, the surplus is paid to the shareholders who chose to pool rather than take up their rights.
- Blackrock and Baker Steel have an upper limit of $1.98 in the conditions for them to take up their portion of the Newcrest entitlement.
Lets say the price ends up being around the current EVN share price of $1.70. That would mean a return of 25c for each right left in the pool.
We then go into normal trading for a couple of weeks, before the process starts again for us retail shareholders. If the first institutional bookbuild goes well, there should be strong demand by funds wanting a position and we could see a higher price set.
So we need a strong result/ high price set today (announced today or before open on Monday), followed by some good news over the next 2 weeks.
I'm considering how many of my rights I will take up. But a cashback for Xmas has some definite appeal too.
- Forums
- ASX - By Stock
- EVN
- entitlements offer
entitlements offer
-
- There are more pages in this discussion • 23 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add EVN (ASX) to my watchlist
|
|||||
Last
$3.72 |
Change
0.000(0.00%) |
Mkt cap ! $7.407B |
Open | High | Low | Value | Volume |
$3.73 | $3.74 | $3.71 | $3.490M | 936.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
38 | 218923 | $3.71 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.72 | 12250 | 15 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
33 | 216294 | 3.710 |
16 | 80812 | 3.700 |
12 | 97114 | 3.690 |
12 | 210597 | 3.680 |
8 | 67883 | 3.670 |
Price($) | Vol. | No. |
---|---|---|
3.720 | 38328 | 12 |
3.730 | 98967 | 31 |
3.740 | 119028 | 23 |
3.750 | 152657 | 26 |
3.760 | 181082 | 12 |
Last trade - 11.18am 10/07/2024 (20 minute delay) ? |
Featured News
EVN (ASX) Chart |
The Watchlist
I88
INFINI RESOURCES LIMITED
Charles Armstrong, CEO
Charles Armstrong
CEO
SPONSORED BY The Market Online