Ann: Completion of Placement, page-15

Yes you are correct. That is how the maths works.

However the company has an extra $8m in the bank so its net value is worth $8m more than before. So in theory there is $8m divided by total shares extra value for each shareholder

If you start with the share price to work out market cap there is no mechanism to reflect this increase.
If you start with the Net asset value to work out the NAV per share, it is reflected, but one usually finds that it doesn't match the market because the market is factoring in numerous other unknowns.

IMO the real question is What do investors think the total value of BCN is. $100m? $200m? $300m? $400m? $500m? When you have answered that divide your answer by the total number of shares and you have a share price. If the market price is higher you should sell, if lower you should buy. It is all a question of what you think the whole entity is worth bearing in mind it is a moving target.

Everyone will have their own ways of working this out