I don't think they intend to keep the gearing at 10%, in the presentation CCP mentions there may opportunities to buy competitor books. That could read through to perhaps CLH or PNC being liquidated, or maybe other opportunities public is unaware of. So that would deploy a fair chunk, maybe all, of the capital raised and increase gearing. Write downs of the existing assets will also cause an increase in gearing.
CCP Price at posting:
$15.19 Sentiment: None Disclosure: Held
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