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Ann: Capital Raising Announcement, page-49

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Huge Jaxxon

3,152 Posts.

331

30/10/19

23:14

Post #: 41158364
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Originally posted by johnsham: ↑

the way it works is very simple:

there was a $60 million placement at $3.60 to Insto investors (sophisticates/funds).

then there was a $62 million rights issue at $3.20 to existing investors. existing investors are split into two buckets - retail and Insto.

unlike retail, Insto holders have to either accept their $3.20 rights now, or those that don't, get those rights placed into a book build which again, Insto investors bid into like an auction. that auction started at $3.20 and was according to reports, done at $3.65.

that is actually a huge premium !! strong demand.

the difference between the $3.20 to $3.65 is paid to those holders.

retail holders who are always deemed - as dumb! - get to think about it for a few more weeks and decide whether they want more shares at $3.20.

get it?

Expand

Jonhsham are you Ron Shamgar? Thanks for the further explanation.

So do we know how the 60mil placement went?

Last edited by Huge Jaxxon: 30/10/19

PBH Price at posting: $4.18 Sentiment: Buy Disclosure: Held
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(20min delay)
Last 68.5¢		Change -0.020(2.84%)		Mkt cap ! $230.2M

Open	High	Low	Value	Volume
71.0¢	71.0¢	68.0¢	$223.9K	323.1K

Buyers (Bids)

No.	Vol.	Price($)
10	85130	68.0¢

Sellers (Offers)

Price($)	Vol.	No.
68.5¢	15196	5

View Market Depth

No.	Vol.	Price($)
6	11412	0.685
12	96578	0.680
9	43150	0.675
10	63372	0.670
6	18577	0.665

Price($)	Vol.	No.
0.690	26826	6
0.695	20180	6
0.700	35680	9
0.705	45995	8
0.710	15756	6

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