I understand the only condition remaining on the RMS bid for DIO is FIRB approval, which is unlikely to be denied.
Given that RMS cannot withdraw its bid, I can't understand why RMS shareholders aren't trading the arb - ie selling RMS and buying DIO - its a no lose situation and an opportunity to make extra money. Its effectively an opportunity to buy back your RMS shares at a lower price.
In the process the price of RMS will go down slightly and the price of DIO will rise until there is a slight discount in the DIO share price, not the whopping 20c at the moment.
One reason its not happening on a large scale is that RMS cannot be shorted - so its only RMS shareholders who can do it. Its one for the retail investors given the lack of major liquidity in both stocks.
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Last
$1.82 |
Change
-0.030(1.62%) |
Mkt cap ! $2.083B |
Open | High | Low | Value | Volume |
$1.83 | $1.83 | $1.79 | $4.279M | 2.357M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 15550 | $1.82 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.82 | 25125 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 15550 | 1.815 |
2 | 1350 | 1.810 |
9 | 158482 | 1.805 |
6 | 55567 | 1.800 |
1 | 2651 | 1.795 |
Price($) | Vol. | No. |
---|---|---|
1.820 | 25125 | 1 |
1.825 | 9359 | 3 |
1.830 | 36926 | 7 |
1.835 | 63644 | 6 |
1.840 | 25633 | 4 |
Last trade - 16.10pm 08/08/2024 (20 minute delay) ? |
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RMS (ASX) Chart |