I assume Collins assumes the deal has a high chance of success as 20pc of the shares were settled already. The question will be whether they provide a scrip alternative for those that decide to stay in.
The raise size seems to be just enough to support the buyout. Might be slightly short so I do expect to see some scrip offered.
https://www.techinasia.com/carsome-races-13b-valuation-200m-raise
I assume Collins assumes the deal has a high chance of success...
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