I previously called 6-8c so will have to stick with that, although I was called out as a heretic
8c would be a 30.44% discount. I would have thought a deep discount rights issue in the current climate would be nearer 45%.
Have to assume as an underwriter you would have a good idea. Think those expecting 20/25/30c are living in fairy world. Smoking the 840.
Capital Raising immnent, page-76
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