My totally unfounded theory is that the share issue is underwritten by Gus and family. It would be very dubious for existing shareholders to increase their stake at a discount by taking up any shortfall. I think they did the right thing and priced the offer at market rates, even a tad higher, to avoid any grumblings.
The relatively small 1:15 entitlement may have been chosen to avoid exceeding any control thresholds.
I just can't see how any investment banker would ever underwrite an issue at 5c given the company is so broke and risky that it is paying a 30% annualised interest rate to borrow money. It's got to be insiders.
Follow the smart money I say !
My totally unfounded theory is that the share issue is...
-
- There are more pages in this discussion • 22 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add OIL (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
20.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $167.0M | |||
| Open | High | Low | Value | Volume |
| 20.0¢ | 21.0¢ | 20.0¢ | $30.19K | 146.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 56896 | 20.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 21.0¢ | 22240 | 3 |
View Market Depth
| Last trade - 15.06pm 06/08/2024 (20 minute delay) ? |
| OIL (ASX) Chart |