If the share price is weak/continues to decline, it will probably put a large number of retail holders off taking up a 3 for 1 rights offer. Obviously renounceable rights can either be taken up, sold (if there is value in them), or lapse. Sinar Mas is underwriting $300m of the rights issue, so pretty clear what the intention is here.
Call me a sceptic but it wouldn't surprise me at all if the share price is pushed down to even below the rights issue price.
Bigger than Whitehaven Coal !, page-6
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Last
$3.34 |
Change
0.070(2.14%) |
Mkt cap ! $3.010B | |||
| Open | High | Low | Value | Volume |
| $3.29 | $3.36 | $3.29 | $3.282M | 986.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 14954 | $3.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.34 | 45670 | 5 |
View Market Depth
| Last trade - 16.10pm 22/05/2024 (20 minute delay) ? |
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Last
$3.33 |
Change
0.070 ( 1.81 %) |
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| Open | High | Low | Volume | ||
| $3.30 | $3.36 | $3.29 | 282340 | ||
| Last updated 15.59pm 22/05/2024 ? | |||||
| SMR (ASX) Chart |