So this is how I think of this transaction:
1. PGC undertakes a capital raising o $201,494,830 by issuing 943,524,071 shares to CH2 at 21.4c per share
2. PGC uses the $201,494,830 capital raised to purchase all the shares in CH2
So PGC were able to undertake a substantial capital raising at higher than the prevailing share price (albeit not much greater) when normally capital raising of that size would require a deep discount.
So on the surface, a good transaction? Well that depends on whether CH2 turns out to be a good purchase.
Ann: Merger of PGC and CH2 Holdings, page-18
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Last
44.0¢ |
Change
0.020(4.76%) |
Mkt cap ! $728.3M | |||
| Open | High | Low | Value | Volume |
| 42.5¢ | 44.5¢ | 42.5¢ | $861.6K | 1.972M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 111901 | 42.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 44.5¢ | 51934 | 3 |
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