" While TERP is the usual way to assess upside from...

"[*] While TERP is the usual way to assess upside from participation, as can be seen from just about all the raisings currently underway, shares are trading well above TERP, ex-raising (in fact, many are trading above last price before the capital raising announcement). That's testimony to the market being pretty efficient in pricing in the need to raise capital."


Well, stock today trading not just above TERP, but at a meaningful premium to pre-raising price, too!

And this isn't just the case for BAP; TERP has been blown out of the water for every company conducting capital raisings in recent weeks.

Just goes to shows the extent to which these are already being priced in by the market, and then some.

.