Buying on market is not raising the price artificially. As I have previously outlined, there is history of share prices falling below the issue price before roaring back to significantly higher prices.
Shareholders, who are non-residents of Australia & New Zealand, as I understand, cannot participate in the rights issue. Therefore, it is in their interests for the cap raise not to succeed as their holdings would be diluted. They could be the culprits undermining the share price. With the share price falling below 73 cents they can buy on market, at a discount, prior to the rights issue thus reducing the dilution. They will need help from panicking shareholders to force the price down before buying later this month.
Buying on market is not raising the price artificially. As I...
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Last
67.5¢ |
Change
-0.030(4.26%) |
Mkt cap ! $92.71M | |||
| Open | High | Low | Value | Volume |
| 70.0¢ | 70.0¢ | 67.0¢ | $21.85K | 32.21K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4765 | 67.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 69.5¢ | 15000 | 1 |
View Market Depth
| Last trade - 15.30pm 04/09/2024 (20 minute delay) ? |
| SMN (ASX) Chart |