If you do the numbers on how many shares you will get by spending $10,000 in SPP versus buying $10,000 Beppa, then providing Beppa trades at a discount to the 43c(which it should with risk involved) i think a buying opportunity may present(if you can tolerate the risk of NO vote).
Similar for BBI. If it traded at 3c, you'd have to be tempted to buy and collect 4c cap return.
I guess its a wait and see, what will the trading range be and will the volumes be their. I suspect BBI in particular will be very illiquid. Most people are probably willing to hold for 4c, not much point selling on market for less. They held this long they might as well see it out.
Beppa has more room for mispricing. Only 6c of the 43c is cash. So you need to discount for risk and then do sums on if the 43c will be accurate. If you read the end market correctly theirs money to be made. Whos to say they wont be worth more than 43c?
I'd seriously look at Beppa below 30c and BBI about 3c, if either happens in volume.
cheers
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