"But yes, dilution will be a problem for anyone not participating. That said, I think if one chooses to sell their existing holdings, then one will have released sufficient cash to cover about 40% of the cost of exercising one's rights."
Actually, I was speaking out of my behind there. It's much better than that.
If you had 1000 share of SKT (on the NZ exchange) you can sell them for nearly 19c NZ (as at last trade - I think) giving you $190 NZ.
If you had held your shares at the rights record date (25 May) you have the right to acquire 2830 shares at 12c (NZ) each. This will require a total outlay of $340 NZ. As such, your sale will cover well over 50% of the rights cost (56% in this example, to be exact).
Ann: Offer Document, page-8
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Last
$2.47 |
Change
0.090(3.78%) |
Mkt cap ! $340.0M | |||
| Open | High | Low | Value | Volume |
| $2.36 | $2.47 | $2.34 | $18.00K | 7.506K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2634 | $2.39 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.47 | 210 | 1 |
View Market Depth
| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| SKT (ASX) Chart |