I'm sure the true answer is in the entitlement offer, but like most people it's easier (and more fun) to speculate - so here's my non-researched opinion:
ASM team think such a small CR will be a slam dunk and don't negotiate for the placement broker to underwrite the offer. Retail investors don't come to the party and the excess shares are homeless. Extend offer, hope it gets in the money and meanwhile negotiate furiously to get an insto or major shareholder to pick up the slack.
I'm sure the true answer is in the entitlement offer, but like...
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Last
58.0¢ |
Change
-0.055(8.66%) |
Mkt cap ! $107.8M | |||
| Open | High | Low | Value | Volume |
| 67.0¢ | 67.5¢ | 57.5¢ | $193.5K | 319.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 842 | 62.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 55.0¢ | 397 | 1 |
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| Last trade - 15.59pm 06/09/2024 (20 minute delay) ? |
| ASM (ASX) Chart |