Citigroup is a fan of heavily geared manufacturer Nylex, but its research analysts didn't mince words about the recent capital raising via rival Bell Potter, which had little room for smaller investors.
Citi described the $45 million raising as "clumsy and poorly timed". But it still thinks it's only a matter of time before the stock resumes its upward march.
c/o Financial Review
good price, page-14
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