Oh I love heuristics, allow me another:
The Placement will involve the issue of xxx new fully paid ordinary shares (“Shares”) at an issue priceof A$2.05 per share, equal to the volume weighted average market price of the Company’s Shares on the
ASX during the 15 trading days up to and including 27 February 2024.
I think it's different for each company and its stage. and widely different products/industries.
I cant but help think that that retail investors might have grabbed share at a smaller discount - as demonstrated by 10% discount yesterday after the placement.
Ann: Argenica Successfully Completes $12.0m Placement, page-23
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 (20min delay)
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Last
77.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $94.57M | |||
| Open | High | Low | Value | Volume |
| 76.0¢ | 78.5¢ | 74.5¢ | $136.6K | 179.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 12411 | 77.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 78.5¢ | 500 | 1 |
View Market Depth
| Last trade - 16.10pm 31/05/2024 (20 minute delay) ? |
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Last
77.5¢ |
Change
0.000 ( 0.65 %) |
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| Open | High | Low | Volume | ||
| 75.0¢ | 77.5¢ | 75.0¢ | 12425 | ||
| Last updated 15.13pm 31/05/2024 ? | |||||
| AGN (ASX) Chart |