NXS gets $0.40 per share guaranteed.
The underwriters (Southern Cross? from memory) either sell the shares lower offmarket tonight through the bookbuild/ on market and takes a "haircut" or keep them. Market is negative anticipating the negative sentiment to the SPP takeup. I WOULDNT expect Southern Cross to dump the shares so there will be no actual overhang, they have been a long time supporter of NXS and the last time I looked they owned something like 20 to 30m shares in NXS.
Dont know if it was disclosed but the underwriter usually gets a 4 to 8% commission (on the $122m) for taking on the risk so depending on their deal - the net cost to them may be something like $0.30 each - so they are in front.
Ann: Completion of Retail Entitlement Offer , page-3
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Last
20.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $58.43M | |||
| Open | High | Low | Value | Volume |
| 20.0¢ | 20.0¢ | 20.0¢ | $7.298K | 36.49K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2090 | 19.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.0¢ | 7938 | 2 |
View Market Depth
| Last trade - 10.41am 27/09/2024 (20 minute delay) ? |
| NXS (ASX) Chart |