So CBA have made a big placement at $38 and describes this as "good for shareholders".
In what way, good, Roger ?
Insiders and cronies get to buy large numbers of shares almost 20% below the market price. They can then sell a similar number of existing shareholdings around $42, locking in an instant 10% profit on the trade. While other shareholders take a 10% loss. Thanks Roger !
Other insiders and cronies who are not already shareholders get to buy the new shares at $38 and instantly sell them at $42. An instant 10% return on capital. Not bad for a one-day investments. And other shareholders take a 10% loss. Thanks Roger !
bad news for shareholders
Add CBA (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$136.80 |
Change
0.340(0.25%) |
Mkt cap ! $228.9B | |||
| Open | High | Low | Value | Volume |
| $136.40 | $136.80 | $135.85 | $234.0M | 1.738M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 376 | $136.60 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $136.80 | 17164 | 7 |
View Market Depth
| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| CBA (ASX) Chart |