"Basically making up numbers - why would anyone pay AUD$5.29 a share when they can buy it for 90c a share?"
That is the precedence set by MGE as per the 27 Dec 2023 announcement. Renergen was AUD0.95/share back then on this date Dec 27 and about an AUD140m marketcap. But with 5.5% of Renergen worth then AUD 7.7m on market they were willing to pay AUD43.4m for 5.5% of Tetra4 whilst Renergen still holds the other 94.5% of Tetra4. MGE paying the equivalent of more than AUD5/share
Management would be doing us shareholders a disservice if they don't strive for a similar valuation or higher for the nasdaq ipo in my opinion and hence limiting dilution.
RLT Price at posting:
94.0¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)