Slow down there Speedy... read the detail.... Breville is undertaking the Equity Raising to collectively raise $104m, comprising of:a fully underwritten $94m institutional placement; and a $10m underwritten SPP" and then... "Eligible shareholders will be invited to subscribe for up to $30,000 each in additional shares, free of any brokerage or transaction costs. The SPP will be capped at $10m"
10m shares at $17 = 588,235 shares. Is there going to be enough for every shareholder? There are about 2000 shareholders with over 1000 shares. That would mean 294 shares per holder.... At a total cost of $5,000. (Surprisingly the sum add up to almost exactly $5k with 99.9999% accuracy)
So, yes you can pick up "a few thousand worth", maybe. But others will apply for $30k worth and dilute you. But is is the institutions that will benefit. Since it is fully underwritten, I would have liked to see a lot more allocated to Eligible Shareholders.
(Please check my maths..... I think it is correct, but happy to be corrected!)
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