Markie, good that you mentioned this. I should have noted that taking up the early entitlement has the risk of missing buying in cheaper on market (or skipping any buying at all) if the sp falls below the entitlement offer. Applying early also offers little advantage, unless you want a quick sale before most retail investors get their new shares. Many wait tip the last few days as a result of these issues.
I'm (naively?) confident TCL's sp will remain above $6.75 due to the high insto subscription (95%), high demand in the bookbuild (commanding 25 cents above entitlement), and relatively low percentage of cap raising from retail investors ($600m vs $2.1B from instos). And access to the full 18 cent distribution in June (ex-div) adds a bit more buffer.
TCL Price at posting:
$7.14 Sentiment: None Disclosure: Held
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