Dagrub said,'This presented the buying op and just by luck the support came in to bring it back to $3.70 that nobody new was the strike price or did they.'
The announcememnt said:
Linc Energy Limited (ASX:LNC) announced today that it had raised AU$100m via a placement of approximately 27 million fully paid ordinary shares to institutional and sophisticated investors at $3.70 per share, which was priced at market, based on the Linc Energy stock price close of last Friday 20th June 2008.
The placement was based on the market close on friday, so if it closed at $4.00 then that would of been the placement offer. Though it did get down to $3.32ish, It could of gone lower too.
But your right dagrub, you are definitely entitled to your opinion.
LNC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
