So institutions oversubscribed for the issue of new shares in mid-December @3.2. What will they be thinking now? Have they been misled?
And retail shareholders subscribed at 3.2 in January! . What will they be thinking now? Have they been misled?
As usual there are moderate to high risks in holding this the stock. Such risks have been approriately outlined in ANG reports/offers. I am now less willing to give the ANG management benefit of the doubt than before. Did they not have forward estimates of divisional performance in Dec to get a sense of profit performance up to end Dec? Ditto for early/mid Jan? Or is their geographic spread now causing financial reporting delays/ problems?
ANG is still a good fit for BKN but even BKN is priced near full year lows.
ANG Price at posting:
$2.22 Sentiment: None Disclosure: Held
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