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
93.5¢ |
Change
0.010(1.08%) |
Mkt cap ! $1.034B |
Open | High | Low | Value | Volume |
93.0¢ | 94.0¢ | 92.0¢ | $3.092M | 3.322M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 71536 | 92.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
93.5¢ | 8514 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 71536 | 0.925 |
10 | 267987 | 0.920 |
6 | 123593 | 0.915 |
5 | 48000 | 0.910 |
2 | 15900 | 0.905 |
Price($) | Vol. | No. |
---|---|---|
0.935 | 8514 | 2 |
0.940 | 28586 | 3 |
0.945 | 126136 | 3 |
0.950 | 150245 | 8 |
0.955 | 70000 | 2 |
Last trade - 16.10pm 09/07/2024 (20 minute delay) ? |
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SPR (ASX) Chart |