"If someone told you in isolation that you could increase your holding by 1/3 at that level you'd be happy. The disappointment comes from salivating at the prospect of being able to load up at such a discount, only to receive a fraction of what you ask for."
Exactly; it's a matter of vastly over-blown expectations.
This capital raising results in a 13.3% increase in shares on issue for the company.
By comparison, SPP applicants get to increase their holdings by 32%.
The shareholders getting diluted here aren't the SPP participants: the dilutees are the institutional investors who did not get sufficient stock in the placement, and the astonishingly high 48% proportion of shareholders (a figure that simply smacks my gob) who did not participate in the SPP.
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Last
$48.53 |
Change
-0.180(0.37%) |
Mkt cap ! $11.14B | |||
| Open | High | Low | Value | Volume |
| $49.00 | $49.12 | $48.53 | $90.81M | 1.695M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1180 | $48.52 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $48.54 | 959 | 1 |
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| RHC (ASX) Chart |