I do not intend to cross-promote (I do not hold FFX shares) but came across FFX's announcement today which gave an insight into the possible time it took to organise a capital raise such as the one we just had. Just an educational titbit for me which I thought was interesting. In FFX's case, between 2-3 trading days elapsed between institutions making the proposal/offer to raise capital and the trading halt being called for. This shows that a capital raise is not organised from start to finish just overnight. If this applied to AVZ's case as well, AVZ SP closed at 56.5 cents 2 trading days (Monday 06/12/2021) prior to the trading halt (08/12/2021), which means an offer of 50 cents/share is a 11.5% discount to the closing market price on the possible day that the offer was made. Sounds a whole lot better to me than a 22.5% discount.
Anyway, all IMO. DYOR
AVZ Price at posting:
72.0¢ Sentiment: Buy Disclosure: Held
