It wasn't a new listing rather a demerger from ILU.
So note each existing ILU holder received a DRR share and they have been trading on a deferred basis until today.
The market will therefore take some time to work out what the value of each is on a stand alone basis (& whether they want to invest in one or both on a stand alone basis).
There are also some big institutional & long/short investors that will be working through this.
Then when you take on general negative market movements and events since then an ILU/DRR $5/$4 split isn't glaringly strange to me.
If you're new to this stock make sure you do a lot of research on the stock and recent trading before acting IMHO.
DRR price, page-3
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Last
$4.06 |
Change
-0.050(1.22%) |
Mkt cap ! $2.146B | |||
| Open | High | Low | Value | Volume |
| $4.10 | $4.11 | $4.00 | $16.85M | 4.158M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 173588 | $4.05 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.06 | 106197 | 6 |
View Market Depth
| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| DRR (ASX) Chart |