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0.5¢ babylon pump & power limited

So why would they pay 2.5c and dump the shares at 2c?

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Fidosnos

1,184 Posts.

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21/04/21

22:43

Post #: 52634901
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Originally posted by mikgnz: ↑

So from what I can tell shortly before this announcement last Friday BPP was sold down from 2.4 cents to 2 cents in millions of shares. Which I guess is against ASX/ASIC practices as the announcement was price sensitive, upon reading the underlined section below (from the announcement) it does not take a rocket scientist to work out who the seller was. What a great result for the shareholders by BPP management and the Underwriters......

Babylon Pump & Power Limited (Babylon or Company) (ASX: BPP) announces the closure of its SharePurchase Plan (SPP) to raise a minimum of $500,000, on 14 April 2021. Babylon advises that theCompany received applications under the SPP for 10,000,000 shares at an issue price of $0.025 pershare, raising $250,000. The SPP was underwritten by Canaccord Genuity (Australia) Pty Ltd (theUnderwriter) to the amount of $500,000. Accordingly, the Underwriter will subscribe for the remaining10,000,000 Shares under the shortfall (Shortfall Shares).

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So why would they pay 2.5c and dump the shares at 2c?

BPP Price at posting: 2.0¢ Sentiment: None Disclosure: Not Held
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(20min delay)
Last 0.5¢		Change -0.001(9.09%)		Mkt cap ! $12.49M

Open	High	Low	Value	Volume
0.5¢	0.5¢	0.5¢	$3.5K	700K

Buyers (Bids)

No.	Vol.	Price($)
6	6104827	0.5¢

Sellers (Offers)

Price($)	Vol.	No.
0.6¢	18216107	6

View Market Depth

No.	Vol.	Price($)
6	6104827	0.005
16	11062878	0.004
5	7240009	0.003
4	13945024	0.002
4	2900999	0.001

Price($)	Vol.	No.
0.006	18216107	6
0.007	600000	2
0.008	6349634	4
0.009	62500	1
0.011	81666	1

Last trade - 12.12pm 26/09/2024 (20 minute delay)

BPP (ASX) Chart