Nope, the shares on issue are simply what they are. The share price and therefore valuation is relative to the shares on issue, not the other way around.
Basic example, say you held 100% of the shares on issue for both ECS and CAN when they first listed and today both companies are valued at $200m exactly:
Your 100% holding in ECS (507,591,067 shares) has been diluted to now be 39% so your holding is worth $79m.
Your 100% holding in CAN (45,000,000 shares) has been diluted to now only be 10% (yikes) so your holding is now only worth $21m.
I know which company I would prefer to have held from the start. It will take a Hail Mary for CAN to survive to end of the calendar year. The clock is ticking on when NAB decides to call in the receivers.
CAN Price at posting:
6.9¢ Sentiment: Sell Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)