When I spoke to Bell I was told they allocated $11K to everyone and not a percentage of what you Bid for.
When I spoke to ADN they only accepted $5M, even though it was oversubscribed.
If everyone got $11K that means possibly only 454 bids at $11K is $5M.
Issuing a total of 384,615,385 shares for $5M
Will be easy to turn these shares over as volume on Commsec
1/5/25 265M
2/5/25 214M
People bought these shares at much higher prices.
These new shares will be churned through quickly as they could be picked up at a bargain price from bidders happy to sell at 1.5c or 1.4c or 1.3c and get a small profit and a free carry on the oppies.
I see the $5M helping ADN to be in a better bargaining space for Debt and Cornerstone.
The golden egg HPA which wasn't budgeted for, is now having funds allocated towards it and excites the market.
It will be a very interesting week!!!!!!!!!!
ADN Price at posting:
1.7¢ Sentiment: Buy Disclosure: 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)