Of course - there is no doubt that it would not rise if the fund was massively underperforming the index. However no matter how you look at it Sebastion & co will do everything possible and are incentivised to keep the SP up once they set that target of the conversion price - and that is what I am alluding to. I have watched it many times before and profited by engaging in the possibility. One good example I can remember is Sandon Capital at the time of its option conversion. The free option can be likened to a Clayton's version of a capital raising - the capital raise you have when you are not announcing one and company's strive to make it work.
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Mkt cap ! $64.78M |
Open | High | Low | Value | Volume |
49.0¢ | 49.0¢ | 48.0¢ | $84.51K | 174.4K |
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No. | Vol. | Price($) |
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2 | 6737 | 48.0¢ |
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Price($) | Vol. | No. |
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2 | 36200 | 0.470 |
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1 | 7500 | 0.400 |
Price($) | Vol. | No. |
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0.485 | 35095 | 2 |
0.490 | 25454 | 3 |
0.495 | 95478 | 2 |
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Change
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Open | High | Low | Volume | ||
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