In theory the insto's won't take up any shares at 75c but buy what they want now. That might be easier said than done depending on how committed they are to the issue.
If they can wriggle out then the underwriter is stuck with up to $90m of stock he doesn't want. Does he bite the bullet and sell or hold till the price recovers - that depends in turn on how strong his balance sheet is and how patient he is.
insto's vs 75c issue
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Last
$6.40 |
Change
-0.005(0.08%) |
Mkt cap ! $5.986B | |||
| Open | High | Low | Value | Volume |
| $6.47 | $6.48 | $6.34 | $14.18M | 2.208M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 49 | 19149 | $6.39 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.40 | 8043 | 12 |
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| Last trade - 13.55pm 12/07/2024 (20 minute delay) ? |
| LYC (ASX) Chart |