RFG

3.66%

7.9¢ retail food group limited

Of course not, that's why I said keep some powder for after the...

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AlCp

26,625 Posts.

1726

25/11/19

14:36

Post #: 41616604
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Originally posted by Galilee13 ↑

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

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Of course not, that's why I said keep some powder for after the SPP but someone is scooping this very good volume sell down.....

RFG Price at posting: 10.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 7.9¢		Change -0.003(3.66%)		Mkt cap ! $194.0M

Open	High	Low	Value	Volume
8.2¢	8.3¢	7.8¢	$471.2K	5.847M

Buyers (Bids)

No.	Vol.	Price($)
1	78808	7.9¢

Sellers (Offers)

Price($)	Vol.	No.
8.0¢	419842	3

View Market Depth

No.	Vol.	Price($)
1	78808	0.079
3	265128	0.078
2	174000	0.077
3	216196	0.076
2	1014238	0.075

Price($)	Vol.	No.
0.080	419842	3
0.081	500000	1
0.082	278057	2
0.083	299999	2
0.084	1181021	6

Last trade - 16.10pm 21/06/2024 (20 minute delay)

RFG (ASX) Chart

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