This was a placement, not a raising, so they had full takeup before announcing anything. The raising was at an an effective discount of 1-(3*5.3/(3*5.7+2*2.7)) or about 30% (taking the PYCOA into account), so the selling down is probably people just taking profits immediately.
I'm increasingly unhappy about the way Phylogica raises capital. For such a small sum, and with such a generous discount, I don't see why an underwritten (preferably renounceable) rights issue wouldn't have been possible. They've done that once before in a raising - I remember getting a cheque for the rights I didn't exercise.
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Last
$1.40 |
Change
-0.040(2.78%) |
Mkt cap ! $839.8M | |||
| Open | High | Low | Value | Volume |
| $1.46 | $1.46 | $1.40 | $163.1K | 113.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 13884 | $1.39 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.42 | 4295 | 6 |
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| Last trade - 12.11pm 14/07/2025 (20 minute delay) ? |
| PYC (ASX) Chart |