Cheers Sandybeachs.
If I'm correct, Macquarie's were a sub holder in the IPO and decreased their holding substantially following a short term holding period. Given the lack of success by Strike in Carnavon Basin especially, Macca's decided to quit the stock.
Now they are acting as lead manager to a placement?? Do they still have a sizeable holding below the 5% threshold?? I'm assuming the placement is also underwritten, given the pricing of the placement. How can they come up with a price and valuation of the company at 0.18c per share?? - given that most of the information has been released to the market including possible revenue projections and the possibility of a further gas discovery with "Webernik". This placement seems to be priced at a level which seems to be very conducive to s.708 investors and insto's.
Any thoughts by other posters would be welcome.
Cheers Freakme
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- placement at 18c for about $4m
Cheers Sandybeachs.If I'm correct, Macquarie's were a sub holder...
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Mkt cap ! $659.0M |
Open | High | Low | Value | Volume |
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18 | 828907 | 0.220 |
9 | 868657 | 0.215 |
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29 | 1101334 | 0.205 |
Price($) | Vol. | No. |
---|---|---|
0.230 | 4111812 | 24 |
0.235 | 1345097 | 17 |
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