Thanks Hammerjx, we did see the ANZ deal number revised. We can only hope that the eventual deal costs $500m. IFL management would have been evaluating this deal for some time. It looks to me that they have waited until ASIC & ASX eased the restrictions on how much they can raise via direct placement of shares at heavily discounted prices to selected institutional investors. As Terry McCrann said in the HeraldSun today, this is totally unfair to retail investors.
IFL Price at posting:
$4.63 Sentiment: Hold Disclosure: Held
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