I'm interested in the implications of the underwriter now having a large number of shares they probably didn't want, and whether this will just be short-term indigestion for the share price.
As I see it they can hold them, sell to corporate clients/instos, sell on market or some combination of these, and either dump them quickly (suppressing the share price) or try to influence the share price higher before selling, in which case the $1.48 for the SPP might act as a ceiling.
Anyone have experience from a previous SPP which hasn't gone to plan about how this might play out?
Ann: Syrah announces completion of retail entitlement offer, page-13
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Last
23.0¢ |
Change
-0.005(2.13%) |
Mkt cap ! $238.0M | |||
| Open | High | Low | Value | Volume |
| 23.5¢ | 24.5¢ | 23.0¢ | $974.9K | 4.149M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 25 | 759202 | 23.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 23.5¢ | 38971 | 2 |
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| Last trade - 16.10pm 19/11/2024 (20 minute delay) ? |
| SYR (ASX) Chart |