if they are going to invest $3bn then that sounds like a right issue....which will dilute current shareholders in the short term ......
even with the opportunity for current shareholders to participate
the rise in the SP seems to be a result of:
a). FMG securing working capital
b). mistaken assumption this is a takeover ala RIO ....
a 10-20% discount to VWAP would put a rights issue somewhere around $2.60ish .....
hunan valin may invest a$3 billion in fmg, page-5
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Last
$18.60 |
Change
0.200(1.09%) |
Mkt cap ! $57.26B | |||
| Open | High | Low | Value | Volume |
| $18.40 | $18.68 | $18.34 | $157.0M | 8.476M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10105 | $18.59 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.60 | 17942 | 8 |
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| Last trade - 16.10pm 06/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |