The entitlement offer has to be at a sufficient discount otherwise no one will take it up. No doubt the raise needs to coincide with meaty enough contract to support the share price enough to get the entitlements taken up.
Without the secondary contract announcement they know the share price will just drift down to the offer price (6c) or below & no entitlements would be taken up & this method of cap raise a waste of time.
The entitlement offer has to be at a sufficient discount...
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Last
22.0¢ |
Change
-0.005(2.22%) |
Mkt cap ! $408.3M | |||
| Open | High | Low | Value | Volume |
| 22.5¢ | 22.5¢ | 21.8¢ | $1.107M | 5.019M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 110458 | 22.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 22.5¢ | 355185 | 24 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| BRN (ASX) Chart |