A public listing is still needed to raise capital because this business is a capital hungry business. Also, capital is needed for growth by acquisitions. So I don’t think they will exit via GO.
In fact, rather then exiting, I think they want to be entrenched further. I am expecting a rights issue. So I am keeping capital for such an eventuality so that I don’t get diluted. I mentioned this before in previous postings and the rationale behind it but I received some brickbats.
Why do I suspect a rights issue is purely conjecture. But too many coincidences have happened. An investment banker must have been approached. I suspect a insti broker got wind of it and got their clients to sell out a portion to get ready capital to subscribe for it. This is the only reason why I suspect a particular broker would sell so soon after recommending it. Also, it also explains why RWL is buying. The net effect of all this is good for FLC in the long run.
Chart, page-4386
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Last
12.5¢ |
Change
0.010(8.70%) |
Mkt cap ! $135.1M | |||
| Open | High | Low | Value | Volume |
| 11.0¢ | 12.5¢ | 11.0¢ | $64.48K | 530K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 77200 | 11.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.0¢ | 40000 | 1 |
View Market Depth
| Last trade - 12.05pm 05/07/2024 (20 minute delay) ? |
| FLC (ASX) Chart |