These guys wouldn't convert without either;
1. Wanting to take a sizeable position; or
2. Have a willing buyer(s) wanting to take sizeable position; and/or
3. Brokers in place to arrange distribution to fund managers.
I don't think we'll see the shares come onto the market in the near future.
IMO this is a positive price signal, not negative. The mood has changed. There will be pull backs along the way, but gut feeling is the game has changed.
Ann: Partial Conversion of Convertible Bonds and Appendix 3B, page-14
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Last
$8.09 |
Change
0.070(0.87%) |
Mkt cap ! $7.561B | |||
| Open | High | Low | Value | Volume |
| $8.15 | $8.27 | $8.08 | $35.31M | 4.353M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 7192 | $8.08 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.10 | 4833 | 2 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| LYC (ASX) Chart |