There is no free finance.
If they were to have done a buy-back, we'd be in an even worse position, with even more very expensive short term debt, potentially with even worse terms, and outstanding for longer.
If the short term debt costs 30% PA, and the buy-back is for up to 30% lower than the raising price, then is it even worth the added risk? (Higher short term debt, and lower cash balance is simply risky)
And the raising at $1.50 is probably only $1.47 after costs.
Though I see the lucky opportunity if the SP was lower than the raising price, at a time when it was safe to do a buy-back (funded by profits).
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$1.59 |
Change
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Mkt cap ! $409.8M |
Open | High | Low | Value | Volume |
$1.63 | $1.65 | $1.58 | $301.7K | 187.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 27763 | $1.58 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.59 | 29 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 26121 | 1.580 |
1 | 5907 | 1.575 |
7 | 2836 | 1.570 |
1 | 643 | 1.555 |
3 | 32300 | 1.550 |
Price($) | Vol. | No. |
---|---|---|
1.590 | 3773 | 1 |
1.610 | 5400 | 1 |
1.620 | 5704 | 1 |
1.630 | 7029 | 1 |
1.640 | 4794 | 1 |
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