It's buying time!
There are heavy volumes churning through PGF today as the placement shares are issued. The discount on the placement and fees for advisers attracted some hot money to the upsized deal. That hot money was 'caught out' by the recent fall in global markets and is now flipping out. The selling pressure has dramatically narrowed the premium to NAV.
Longer-term focused holders are buying, knowing that the selling pressure from the placement will abate over the coming days, and new buyers will come in again ahead of the next dividend. Longer-term holders will benefit nicely from the accretion to NAV from the placement, as the premium to NAV regains its normal balance, and as global sharemarkets recover from the recent fall.
It's buying time!There are heavy volumes churning through PGF...
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Last
$2.22 |
Change
0.020(0.91%) |
Mkt cap ! $1.062B | |||
| Open | High | Low | Value | Volume |
| $2.21 | $2.23 | $2.20 | $405.3K | 183.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 27394 | $2.21 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.22 | 26038 | 3 |
View Market Depth
| Last trade - 15.33pm 13/09/2024 (20 minute delay) ? |
| PGF (ASX) Chart |