A straight out spp would have got a better response to the raise than a 1/13 which will not in the slightest way be taken up by many holders, therefore you are restricting the amount of shares that may be wanted by a large purchaser. No pump is going to get this over the line, 15% take up imo. Or maybe this was the plan by management anyway to reduce dilution whilst keeping shareholders happy? Failed miserably in any case.
A straight out spp would have got a better response to the raise...
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Last
0.7¢ |
Change
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Mkt cap ! $22.28M | |||
| Open | High | Low | Value | Volume |
| 0.6¢ | 0.7¢ | 0.6¢ | $50.96K | 8.255M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 31 | 7954833 | 0.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.7¢ | 7895228 | 18 |
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| ADN (ASX) Chart |