I don't think the shorters will need to cover on this one.
KAR won't issue, if the case, rights at a higher price, will be much less.
If fully underwritten then i only see a surplus overhang as most retail shareholders might have had enough.
As for the instos they are laughing, more shares to lend out.
I don't think it's a good outcome but it was unnavoidable.
non renounceable rights issue, page-6
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Last
$1.75 |
Change
0.010(0.58%) |
Mkt cap ! $1.408B | |||
| Open | High | Low | Value | Volume |
| $1.76 | $1.78 | $1.73 | $5.966M | 3.406M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 41392 | $1.75 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.75 | 38411 | 18 |
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| Last trade - 14.31pm 08/08/2024 (20 minute delay) ? |
| KAR (ASX) Chart |