Most of the new shares are already trading in the market, seeing as the majority of the offer went to institutions (80% +), and retail was well undersubscribed...
If the institutions wanted to sell for a profit they would have done so ahead of the perceived "retail scramble" which arrives this Wednesday....
If this event were a real threat to the share price, the institutions were well placed to sell in advance of this date - but thus far none appear to have hit the panic button as yet!
Therefore I believe that there will be minimal impact if any. Conversely, given that the institutions appear to have set a precedent and held, I would feel more inclined to see stock being held by retail investors too , all other factors being equal - hopefully leading to price increases over time.
Most of the new shares are already trading in the market, seeing...
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Last
$4.74 |
Change
0.070(1.50%) |
Mkt cap ! $9.079B | |||
| Open | High | Low | Value | Volume |
| $4.70 | $4.76 | $4.65 | $24.57M | 5.193M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 49169 | $4.71 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.74 | 78820 | 3 |
View Market Depth
| Last trade - 16.10pm 21/08/2024 (20 minute delay) ? |
| GPT (ASX) Chart |