Market chatter is that there has been limited insto buying over the past few weeks due to the expectation (correct) that they would be able to buy in bulk during retail shortfall bookbuild, rather than on market and pushing up the price. Based on the insto bookbuild I would have thought insto investors will be asked to bid up in 5c increments from a floor price of $3.85. If demand does not exceed supply the underwriters will take excess. Given there are likely 200 million shares for sale I would predict a low case of $3.85 as open and steady rise from there over the coming weeks.
RE-Open price Friday, page-6
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Last
$7.64 |
Change
0.030(0.39%) |
Mkt cap ! $24.81B | |||
| Open | High | Low | Value | Volume |
| $7.59 | $7.68 | $7.56 | $51.32M | 6.734M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2261 | $7.64 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.65 | 754 | 1 |
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| Last trade - 16.10pm 08/08/2024 (20 minute delay) ? |
| STO (ASX) Chart |