Why would they need as much capital as they can get? CR’s are dilutionary as you know. The directors would need to take this into account as well if they decide to accept overs. Raise too much and the share price will naturally come back down to the raising price or below.
Pendal isn’t some BNPL which needs to raise as much as it can get to expand into new markets and provide working capital. It is aquiring another fund manager and says so in the info booklet that the SPP proceeds will be to pay down debt. To borrow a quote from Motley Fool Scott - “debt is temporary but equity is forever”.
PDL Price at posting:
$7.88 Sentiment: Hold Disclosure: Held
