Luis, I'm sure IMHO can answer for himself, but I did not think he was referring to your very valuable posts.
You raise interesting aspects of the Aussie market, and I think you have a very valid point about having to offer to SH in the first place, especially as it was for such a small amount spread between nearly 40,000 holders - about $1k each.
I can only assume that to get the underwriting away they had to offer a large discount so patts could ensure the underwriting. And then dangle the carrot of a prorate amount in the placement to the subs. A very generous offer, and one has to wonder why they thought it necessary.
Can only assume that man line brokers washed their hands of LYC some time ago and the options were somewhat limited.
The reality that they only just managed to get the offer away, with a huge discount, must tell us all something?
Luis, I'm sure IMHO can answer for himself, but I did not think...
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Last
$8.02 |
Change
0.260(3.35%) |
Mkt cap ! $7.496B | |||
| Open | High | Low | Value | Volume |
| $7.75 | $8.02 | $7.75 | $43.38M | 5.448M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10000 | $7.94 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.02 | 500 | 1 |
View Market Depth
| Last trade - 16.10pm 30/09/2024 (20 minute delay) ? |
| LYC (ASX) Chart |