Long time since I can remember a thread with so many disgruntled posters. As I have already posted normal practice when calculating a capital raising share price is to give a 10 - 20% discount to the 10 day VWAP( weighted average of the share price over the preceding 10 trading days.). The share price has ranged from .74c - .93 in this period.
A price appears very reasonable on the above info. To attract major investors they need to offer a substantial discount as this stock has substantial risk associated with it as it does not generate sufficient cash flow to cover expenses at this stage. There is also the risk of doing business in China and being seriously by policy changes in that country.
AFR article - $40m cap raise @ 75c, page-4
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13.5¢ |
Change
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Mkt cap ! $120.4M | |||
| Open | High | Low | Value | Volume |
| 13.5¢ | 13.5¢ | 13.5¢ | $2.837K | 21.01K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 41 | 2902000 | 13.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.5¢ | 501268 | 18 |
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