I disagree on your statement “a discount was required”.
There’s only 30% out of the control of the top 20. If there was any new big guy that wanted in (and I’m sure there is according to everyone on here suggesting a TO) they would have had to push the SP up to take a sizeable stake. So where are those institutions and why weren’t they prepared to pay a premium for a generous stake in this new offer to take a position?
As others have said, this was a gift to the big boys. Having a chance for the punters to buy on market at the same price is not an argument because it happened by default as a result of this low ball issue which should never have happened in the first place if there are suitors clamouring for what we have. So which is it?
Ann: Successful Completion of $47M Share Placement, page-77
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Last
42.5¢ |
Change
-0.005(1.16%) |
Mkt cap ! $211.0M | |||
| Open | High | Low | Value | Volume |
| 43.0¢ | 43.0¢ | 42.0¢ | $34.45K | 80.53K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 44989 | 42.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 43.0¢ | 1235 | 1 |
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| Last trade - 15.28pm 15/11/2024 (20 minute delay) ? |
| CTM (ASX) Chart |