none of you have yet identified the BIG ISSUE around why QBE is currently the subject of strong SHORT INTEREST.
The trick is that this is an UNDERWRITTEN DRP.
This means that to the extent that shareholders don't take up the DRP (and participation rates are only around 45% I think). . . .the UNDERWRITER is obliged to take the rest.
SO - WHAT the underwriter does is to steadily short the stock during the pricing period, and then he writes out a cheque to QBE for the DRP SHORTFALL. . . before using newly issued QBE shares to deliver against the short positions.
THEREFORE - there is NO surge of buying as the shorts are covered, as the shorts are covered by primary rather than secondary stock.
none of you have yet identified the BIG ISSUE around why QBE is...
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Last
$18.05 |
Change
0.400(2.27%) |
Mkt cap ! $27.11B | |||
| Open | High | Low | Value | Volume |
| $17.95 | $18.06 | $17.84 | $175.5M | 9.796M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 25956 | $17.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.05 | 36322 | 2 |
View Market Depth
| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| QBE (ASX) Chart |