Without getting technical we are talking about 40m dollars here....which in the scheme of a half billion dollar market cap and NPV of $2.5b is just a drop in the ocean - this fall in the price is exactly as expected. Credit Suisse would have locked in their 9% gain by taking the placement and then putting on a short immediately to lock in the profit. easy money and not exactly a new strategy....
Ann: $40M Underwritten Placement to Fully Fund Century Restart, page-33
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