It is not unusual for ipo's to drop in value after listing, and market sentiment over the last few months probably hasn't helped the junior end of the market either.
The initial raise was $6.1m before costs a year back.
EVN had a cornerstone investment of $2.5m
Re the CR:
The least that the issue can be made at (from memory) is 20% of the VWAP for the five trading days before the halt.
VWAP is 7.8c less the 20% = issue price of ~6.2c
So the key will be how much over the 6.2c can RGL raise at? How many shares will they issue at whatever the issue price will be and how long will that keep them going?
Will they use all of their 7.1 and 7.1A allowance?
(~83.2m SOI) = ~12.5m + 8.3m =~20.8m * 6.2c = a raise of ~$1.289m
Will they need to sweeten the deal by throwing in free options etc. Will it go to Sophs, be a SPP or rights issue.
The Alaskan projects will not progress until next season (May) of next year.
Just some thoughts on the run ... don't shoot me
It is not unusual for ipo's to drop in value after listing, and...
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Last
0.7¢ |
Change
0.001(16.7%) |
Mkt cap ! $8.467M | |||
| Open | High | Low | Value | Volume |
| 0.8¢ | 0.8¢ | 0.7¢ | $259.8K | 34.17M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 4299526 | 0.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.8¢ | 6686426 | 13 |
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| Last trade - 16.10pm 15/07/2024 (20 minute delay) ? |
| RGL (ASX) Chart |