They artificially pumped the sp from 4.6 to 5.4 and now they want to raise at 4.25
This was only at 8% discount based on the lowest price at 4.6 for the last 10 days. It was smart.
The company wanted to issue 3.5b new shares to raise $146M which represented 55% existing shares on issue so the sp will be diluted by 55% hence the sp should beat 3c.
The placement is subjected to many conditions and I don't know how FAR would be able to raise that much money.
Ann: Equity raising to finance Sangomar Phase 1 Presentation, page-63
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Mkt cap ! $40.19M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
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| 2 | 30000 | 44.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
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| 44.0¢ | 76840 | 3 |
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| Last trade - 09.20am 03/05/2024 (20 minute delay) ? |
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| Open | High | Low | Volume | ||
| 44.0¢ | 44.0¢ | 43.5¢ | 27906 | ||
| Last updated 10.03am 03/05/2024 ? | |||||
| FAR (ASX) Chart |
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