I agree and disagree...Look at the number buy and sell shares...10 to 1 ratio...There is still hope for PBD.
As for the 58% take-up...That Entitlements Offer is only for existing shareholders on a 4 to 1 rights offer - NOT a public offering. If you bought into PBD before the collapse, you will definitely be caught with negative sentiments and ask "why on earth would I take up my offer?". But if you come in now, it's a different ball-game.
I would assume that the Underwriter will try dump all of the shares on the market for 1c, but with the trade volume today, 1 buy order totalled 50M shares.
Watch this space...
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I agree and disagree...Look at the number buy and sell...
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