The theoretical ex-rights price of AUD 13.31 quoted by the announcement was as per 22 November 2021.
The CDIs should be theoretically trading at AUD 12 plus a little more to account for the non-renounceable entitlement offer and the discount benefit compared to closing theoretical ex-rights price on 22 November 2021. I price it as 12 + (13.31 - 12.00) / 15.64 = AUD 12.08? Or should it just be AUD 12 plus 20 cents? Not a pro at this, would welcome any suggestion / corrections.
In any case, I bought a little more to top up and get more rights, after selling late last week. This deal makes a lot of sense from a value perspective (trading 22x revenue 360:AX CDIs and purchasing at 2x revenue), and launches 360 into a main competitor for Apple and Google in the location services / tag space.
Ann: Strategic acquisition of Tile & Equity Raise - Investor Pres, page-23
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Last
$18.94 |
Change
-0.290(1.51%) |
Mkt cap ! $4.216B | |||
| Open | High | Low | Value | Volume |
| $19.07 | $19.10 | $18.66 | $20.47M | 1.082M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2157 | $18.94 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.95 | 1885 | 1 |
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| Last trade - 16.10pm 30/09/2024 (20 minute delay) ? |
| 360 (ASX) Chart |