The problem you have is you assume that after the capital raise and you have received your extra shares you will actually be able to sell for $0.90.
You have to work out in your own mind what the actual value will be after the impact of the massive dilution.
I expect the SP to drift well below $0.90 over the next few weeks. I reckon it will be closer to $0.50 (lets not argue the toss over NZ$ / AUD$)
Ann: Air NZ updates on capital raise timing and liquidity, page-47
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Last
48.0¢ |
Change
-0.008(1.54%) |
Mkt cap ! $1.616B | |||
| Open | High | Low | Value | Volume |
| 48.5¢ | 49.0¢ | 48.0¢ | $142.1K | 293.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 55 | 1139798 | 48.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 48.5¢ | 10000 | 1 |
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| AIZ (ASX) Chart |