Yeah, SN confirming it is one thing. The market (shorters in particular) believing it is another. To be fair, even if a CR is actually required, no CEO in their right frame of mind will confirm a CR is needed before they actually pull the trigger. Else they are just shooting themselves in the foot. When all is said and done, the proof is in the pudding and time will ultimately reveal whether one is needed or not.
IMO, I don't see them needing one unless they hit a massive success at OH AND they decide to fast track its development. If that's the case, one would expect the market to rerate its EV anyway so a CR should be done at a higher price and therefore less dilutive.
618
Ann: 3Q FY24 Quarterly Report & Appendix 5B, page-78
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