Nope, it actually works the other way round. The broker will line up some "sophisticated investors" who want to make 10% on their capital in a short time. They will want to offload the shares they get to the market at a 10% premium to what they paid for them
So the broker tells the company they need to have some good news coming that will lift the share price to facilitate the sophs and the broker who runs their accounts to dump the new stock.
So the company says" we are expecting FAA approval in 6 weeks".
Great says the broker and makes preparations...
Understand the way it works now?
Ann: Proposed issue of securities - SMN, page-3
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Last
42.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $57.69M | |||
| Open | High | Low | Value | Volume |
| 42.0¢ | 43.0¢ | 39.0¢ | $43.54K | 103.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1493 | 39.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 43.0¢ | 15000 | 1 |
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| Last trade - 16.10pm 02/07/2024 (20 minute delay) ? |
| SMN (ASX) Chart |