Did current shareholders really think they could buy stock in SPP at 10c and sell it at a 40 to 50% profit? Made a quick $15k on the SPP.
Did current shareholders really think that the share price would trade at a significant premium to the issue price of 10c after 2 billon (2,000,000,000) shares were issued?
This is not a must have stock. It's not some new tech with massive growth. The company will continue to shrink as more stores close and business units are closed. It's not a yield stock. The industry is facing some of the toughest times of late. So best case it's a deep deep value turn around play with significant risk that will take significant time.
Here's a theory. The underwriters will be paid some $14m. which before the recap is around 50% of current equity. The underwriters could have easily supported the share price by buying a few million dollars worth of stock to keep the share price in the mid teens to ensure the placement and SPP get done. They take a big loss on the stock they have bought as they sell it back into the market but overall have still make a killing. Looks like retail and current shareholders get screwed.
Will be interesting to see how this trades next week when an additional 2 billion shares hit the market. AIMO
- Forums
- ASX - By Stock
- RFG
- Ann: Share Purchase Plan
Ann: Share Purchase Plan, page-37
- There are more pages in this discussion • 39 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add RFG (ASX) to my watchlist
|
|||||
Last
7.5¢ |
Change
-0.001(1.32%) |
Mkt cap ! $184.2M |
Open | High | Low | Value | Volume |
7.4¢ | 7.5¢ | 7.4¢ | $614.9K | 8.241M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 105910 | 7.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
7.5¢ | 212132 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 105910 | 0.073 |
1 | 85000 | 0.072 |
3 | 120666 | 0.070 |
1 | 21739 | 0.069 |
2 | 84720 | 0.068 |
Price($) | Vol. | No. |
---|---|---|
0.075 | 212132 | 2 |
0.076 | 265991 | 3 |
0.077 | 559334 | 7 |
0.078 | 1117317 | 7 |
0.079 | 142182 | 7 |
Last trade - 16.10pm 17/06/2024 (20 minute delay) ? |
|
|||||
Last
7.4¢ |
  |
Change
-0.001 ( 1.73 %) |
|||
Open | High | Low | Volume | ||
7.4¢ | 7.5¢ | 7.4¢ | 5005862 | ||
Last updated 15.58pm 17/06/2024 ? |
Featured News
RFG (ASX) Chart |
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non Executive Director
Simon Kidston
Non Executive Director
SPONSORED BY The Market Online