The insto part of the CR was heavily oversubscribed and only 6% of shares offered so no chance to get 10% or even close to it.
The updated article in the AFR clearly comes across as another miner is the buyer - they speculate it maybe RMS - based on recent activity Penny West, WGX, Musgrave, etc this approach, if it is RMS, is quite unlike their past M&A approach and when they are sitting on $600m in cash why only bid for 10% or even 20% and say will not be making a TO bid?
If Aust fund managers are saying no and Tembo are not interesting in anything below $1 the bidder may struggle to get to 10% which would be good for the SP.
8.6% is not much of a premium.
While I may be way off I won't be surprised to see this go materially above 90c today! Why because it is clear there are players wanting to buy SPR - speculation has been around for months it will be taken over. Many investors will want to buy SPR as they will be assuming a TO will come as some stage at a much higher price. Happens a lot once a bidder shows their hand. Will other bidders emerge?
only 90c?
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Last
$1.21 |
Change
-0.050(3.97%) |
Mkt cap ! $1.339B |
Open | High | Low | Value | Volume |
$1.25 | $1.25 | $1.19 | $10.75M | 8.742M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 20660 | $1.21 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.22 | 30800 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 15518 | 1.210 |
1 | 2212 | 1.205 |
5 | 39200 | 1.200 |
2 | 15616 | 1.190 |
1 | 3700 | 1.185 |
Price($) | Vol. | No. |
---|---|---|
1.220 | 800 | 1 |
1.225 | 100000 | 1 |
1.240 | 4166 | 1 |
1.250 | 7431 | 1 |
1.255 | 15463 | 2 |
Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
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SPR (ASX) Chart |