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.
If the share price is weak/continues to decline, it will...
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Last
$3.18 |
Change
-0.160(4.79%) |
Mkt cap ! $2.866B | |||
| Open | High | Low | Value | Volume |
| $3.26 | $3.26 | $3.17 | $3.452M | 1.079M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 2456 | $3.18 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.19 | 9650 | 2 |
View Market Depth
| Last trade - 16.10pm 01/05/2024 (20 minute delay) ? |
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Last
$3.18 |
Change
-0.160 ( 4.28 %) |
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| Open | High | Low | Volume | ||
| $3.26 | $3.26 | $3.18 | 245416 | ||
| Last updated 15.59pm 01/05/2024 ? | |||||
| SMR (ASX) Chart |