I'm also an ANP LTH with a reasonable sized holding. I understand the belief that there is a secret club with inside info... but if there is, being a sophisticated investor doesn't automatically gain you entry to it sadly (maybe they just don't like me ). It usually just gives you the opportunity to see the term sheet when it is released (after the TH is issued), and bid early in the initial raise. I have followed ANP for years and discussed this at length with mates who are also holders, and like many here, I have been expecting a raise for some time (or a big pharma deal - but the raise was preferable to me) and expected it very soon... so I wasn't surprised at all when it happened.
However, the first I heard of the CR was 9:30am this morning when my broker rang me to let me know it was on (I had worded him up that I expected one and I was interested so to keep an eye out). Not even aware yesterday when it was in TH, and certainly not when it was trading. I was actually amazed at how tight a ship ANP was.
I am a LTH so I don't trade my ANP shares... so you won't find me selling hoping to second guess raises as I'm likely to miss it like everyone else. I have a significant holding so in this case, there was no need for me to bid in to the early insto/soph raise as my entitlements will be more than enough (which is actually better than going the soph route if you can).
I don't post often and usually try and avoid giving my opinion mainly because I don't think it is that valuable (although I broke that rule today)... but I was happy to come on here and share a bit of the actual information on the deal that I had in front of me to clarify things for other holders and quell some speculation. Not my opinion - Just facts.
As for this raise today. It closed really early. One of the fastest I have seen... so I wouldn't be surprised if it wasn't massively over subscribed, and given the retail entitlement offer is not underwritten... it would make complete sense if management did take a little extra from the instos for safety. As I posted previously, I was surprised how much was kept for existing holders and how little for instos. Overall it was very smoothly run and the CR is accompanied by positive news to support it.
I guess we'll both see how it went next week when the announcements are released TH is lifted.
Hope that helps.
ANP Price at posting:
29.5¢ Sentiment: Hold Disclosure: Held
). It usually just gives you the opportunity to see the term sheet when it is released (after the TH is issued), and bid early in the initial raise. I have followed ANP for years and discussed this at length with mates who are also holders, and like many here, I have been expecting a raise for some time (or a big pharma deal - but the raise was preferable to me) and expected it very soon... so I wasn't surprised at all when it happened.
