I think it's tactical on managements part. If they genuinely had retail holders interests and only wanted their 15 million they would have just closed the offer early and prioritised those who got in first.. but no they kept it open for bragging rights to over subscription.
Woohoo we got 100% oversubscription - announce to market and let it know they won't be issuing extra shares. There is now technically a wall of 43 million shares wanting to buy at 35c. Who's playing the market - management is.
Ann: Completion of Share Purchase Plan, page-9
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$2.97 |
Change
0.060(2.06%) |
Mkt cap ! $8.942B | |||
| Open | High | Low | Value | Volume |
| $2.96 | $3.02 | $2.93 | $100.8M | 33.97M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 716181 | $2.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.98 | 235000 | 1 |
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| PLS (ASX) Chart |