A TO is probably out of the question.
Firstly, it would need to be done on a fair and reasonable basis - so there is no prospect of getting a cash box cheaply.
Secondly, the likes of Shougang could not vote (as a related party) in any TO vote by shareholders.
Thirdly, with APAC holding such a big swag of MGX, there would be little appetite for this company.
The only way a TO could get up right now is through a scheme of arrangement with APAC/Shougang agreeing to sell into it. I cant see that happening.
IO up 5%, page-23
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Last
34.0¢ |
Change
0.015(4.62%) |
Mkt cap ! $413.9M | |||
| Open | High | Low | Value | Volume |
| 33.0¢ | 34.0¢ | 33.0¢ | $1.090M | 3.281M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 42619 | 33.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 34.0¢ | 411301 | 5 |
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| Last trade - 16.10pm 11/10/2024 (20 minute delay) ? |
| MGX (ASX) Chart |