Thanks Serena that makes sense. With the register likely dominated by retail holders, it's more likely they'll get the funds from them rather than find fund managers to tip in the equivalent. It'll underwritten anyway so funds will get raised.
Issues are whether there is any associated debt restructure with Soljitz as Speckyraider seemed to have some knowledge of on the other thread.
Also the structure of the issue will likely keep the price down. They are suggesting a 17.5% discount to the 5 day average leading to May 26. Don't know why they didnt price it to just the last 5 days before the trading halt and get on with it.
Anyway the stock will go no-where for 4 weeks whilst this works through. Price should be somewhere around $0.14 based on last 5 days, but this could get kicked down further due to the timing and then also suffer from a percieved share overhang from Patersons if not all rights are taken up.
I'll be another couple of months before the share price has a chance to get any traction.
I'll come back in July and have another look then.
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Open | High | Low | Value | Volume |
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1 | 15000 | 6.350 |
2 | 260 | 6.340 |
3 | 4563 | 6.330 |
4 | 8665 | 6.310 |
Price($) | Vol. | No. |
---|---|---|
6.400 | 10000 | 1 |
6.410 | 24000 | 1 |
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