From a regular daily email sent to Bell Potter clients. The main raising from institutions and professional investors has already been completed apparently and I expect this to be a 1 for 5 rights issue for existing shareholders at same the price offered to the institutions, which I'm told was 53cps. I believe this is accurate information but keep in mind it came to me third-hand and I do not vouch for it personally. You would expect a discounted price in a raising but I don't know enough to judge whether the discount at 53c is consistent with previous raisings in companies of this size and whether it is a credible figure. In any case we can't do anything until Tuesday so we'll know then if it is correct.
PGC Price at posting:
67.0¢ Sentiment: Hold Disclosure: Held
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