Capital raises in recent history (dating back to 2013):
-May 2013. Trading halt 17 March 2013, closing price 35.5c. Capital raise announcement 21 May 2013, closing price 32c. Capital raise issue price 27c. Low price within 10 trading days following capital raise announcement 26.5c. Reason for raise: to retire bank debt.
-November 2013. Trading halt 11 November 2013, closing price 42.5c. Capital raise announcement 13 November 2013, closing price 42c. Capital raise issue price 37c. Low price within 10 trading days following capital raise announcement 38.5c (trend reversed eventually after reaching 21.5c). Reason for raise: acquisition of LR Instruments.
-August 2015. Trading halt 14 August 2015 , closing price 64c. Capital raise announcement 18 August 2015, closing price 73c. Capital raise issue price 53c. Low price within 10 trading days following capital raise announcement 60.5c. Reason for raise: acquisition of Western Biomedical, Designs For Vision, and Meditron.
Each capital raise has raised capital at a discount to the trading price, and each capital raise announcement has also led to a period of consolidation (some shorter than others) before the next leg up. This is also reasonably typical of the capital raises I have observed across other stocks.
Let's see what happens here.
PGC Price at posting:
76.0¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)