Even if the sp could squeak back above $5.95 by April 11, and it doesn't look like it, I can't see many retail holders taking up the offer. That would suggest the underwriters having to find a home on the market for the best part of 40M or so shares. More downward pressure in the short-term at least.
About the only winners have been any Spotless holders who bought in recently and sold into the feeding frenzy DOW created. Spotless itself has hardly been a poster-child for enhancing shareholder value.
An alternate view, page-14
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Last
$4.86 |
Change
0.010(0.21%) |
Mkt cap ! $3.263B | |||
| Open | High | Low | Value | Volume |
| $4.84 | $4.90 | $4.82 | $3.134M | 644.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 10267 | $4.86 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.88 | 1844 | 1 |
View Market Depth
| Last trade - 16.10pm 22/07/2024 (20 minute delay) ? |
| DOW (ASX) Chart |