Why would any one be selling this stock at the moment? Current holders will get an entitlement of 1 new stock at 5.5c for every three they currently hold. Attached to those new shares will be a one for three free option.
More importantly the new entitlement will be tradeable, and from past experience, they may go for as much as 1.5 cents. The only thing current holders will have to do to be eligible for the entitlement is to hold the stock at a certain cut off date. That will probably be a week or so after the prospctus is sent to us next week.
Some canny investors will now see an opportunity to buy this stock at the new issue price of 5.5c, hold for a short time and sell the entitlement at a nice profit. In my view people shouldn't be selling this one under 7c at present
Why would any one be selling this stock at the moment? Current...
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Last
17.0¢ |
Change
0.025(17.2%) |
Mkt cap ! $25.56M | |||
| Open | High | Low | Value | Volume |
| 15.0¢ | 17.3¢ | 15.0¢ | $77.04K | 493.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 35402 | 16.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.5¢ | 150000 | 2 |
View Market Depth
| Last trade - 14.34pm 28/06/2024 (20 minute delay) ? |
| BUR (ASX) Chart |