maybe because all shares rank equally. The retail component was good for retail as as it turned out it gave them an opportunity to buy as much as they wanted at same price as instos.
thinking about it the other way, had there not been a fully underwritten $20m retail offer then i dont believe the price would have gone as low as circa 125c. I believe the instos were keen to get their underwritten shares also so what better way than to keep price at or around offer price.
i think the outcome was a win/win/win. Par got their money. Instos got their underwritten shares and retail could fill their boots at insto offer price. Everyone got a chance to achieve their desired outcomes if they took action
Ann: Successful Completion of Entitlement Offer, page-3
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Last
29.0¢ |
Change
-0.005(1.69%) |
Mkt cap ! $101.4M | |||
| Open | High | Low | Value | Volume |
| 29.0¢ | 29.3¢ | 28.0¢ | $57.32K | 198.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 12454 | 28.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 29.0¢ | 4443 | 1 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| PAR (ASX) Chart |