So, with the institutional entitlement offer having fallen well short of the line, the underwriters have been hosing out stock to a level where the retail offer is now also at serious risk of not being taken up.
Which means the underwriters are going to be saddled with another shed load of unwanted stock which will have to find a home in coming weeks.
I suspect the indigestion impacting the stock price is likely to continue for a while longer.
Evidently, ORA management and board, and their corporate advisors, didn't think through the issues very well on this one.
.
Ann: ORA - Retail Entitlement Offer, page-2
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Last
$1.95 |
Change
-0.010(0.51%) |
Mkt cap ! $2.613B | |||
| Open | High | Low | Value | Volume |
| $1.96 | $1.96 | $1.92 | $14.04M | 7.245M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 278964 | $1.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.95 | 43825 | 6 |
View Market Depth
| Last trade - 16.10pm 17/06/2024 (20 minute delay) ? |
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Last
$1.94 |
Change
-0.010 ( 0.53 %) |
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| Open | High | Low | Volume | ||
| $1.96 | $1.96 | $1.92 | 2431999 | ||
| Last updated 15.59pm 17/06/2024 ? | |||||
| ORA (ASX) Chart |
