Really low issue price, $1.20 is a massive discount to last traded and to TERP of $1.70. If it trades at $1.44 it will have the same market cap as pre-raise just with ~$180m (after costs) less debt.
This just highlights why the price of $1.20 is way too low a discount to the theoretical ex rights price (TERP) of $1.70. Underwriters are getting fat checks here for not really taking on risk imo.
I will be applying for that extra 25% top up, it is a shame they didn't allow for a higher percentage here for retail holders to top up, further insult is the underwriter has discretion to reject top ups, wtf?
ACL Take Over Proposal Wishful Thinking, page-19
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 (20min delay)
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Last
$1.32 |
Change
0.005(0.38%) |
Mkt cap ! $958.4M | |||
| Open | High | Low | Value | Volume |
| $1.30 | $1.34 | $1.30 | $3.165M | 2.396M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6226 | $1.32 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.34 | 27874 | 5 |
View Market Depth
| Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
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Last
$1.33 |
Change
0.005 ( 1.50 %) |
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| Open | High | Low | Volume | ||
| $1.31 | $1.33 | $1.31 | 1631881 | ||
| Last updated 15.59pm 24/05/2024 ? | |||||
| HLS (ASX) Chart |