Jim, hugely dilutive, but the billionaires are net buyers, not sellers, so their shares won't be on the market for sale. They use these raisings to increase their stakes. It's a huge case of averaging down for them- along with every current holder- but if they said they weren't participating, it would be a worry. Given that they are going to buy more shares, one would surely have to think privatisation is on the cards. I don't think they average down for charity.
TEN Price at posting:
26.9¢ Sentiment: None Disclosure: Not Held
