Although market mood is very volatile, we should end up with an SSP over subscription, IMO. My stab-in-the-dark answer to your question is an acceptance of 60% of the applied-for shares, because that is just under what I experienced in the previous CR. I think that percentage was fixed for all applications, except those completely rejected for being ridiculously small.
If the SSP is over subscribed, management could reduce the scale-back by increasing the target. In the previous SSP, management doubled the target, suggesting that had this not happened, SSP application acceptance would have been only 30%, and that would have peeved many shareholder.
The target CR including the institutional $120m is $150m, and that was stated to reduce gearing to 10%. That suggests to me that if CCP doubled the SSP target, the extra $30m would reduce gearing to close to zero, probably with a bit extra for the petty cash box. Under the circumstances (the good options to use cash), I do not see anything wrong with CCP accepting the extra funds.
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$14.97 |
Change
-0.160(1.06%) |
Mkt cap ! $1.018B |
Open | High | Low | Value | Volume |
$15.07 | $15.21 | $14.72 | $1.658M | 111.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 1149 | $14.90 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$14.98 | 800 | 1 |
View Market Depth
No. | Vol. | Price($) |
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1 | 750 | 14.750 |
1 | 807 | 14.740 |
1 | 68 | 14.700 |
2 | 1200 | 14.600 |
1 | 68 | 14.570 |
Price($) | Vol. | No. |
---|---|---|
15.580 | 1200 | 1 |
15.600 | 201 | 1 |
15.610 | 1423 | 1 |
15.630 | 2000 | 1 |
15.650 | 2563 | 1 |
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