CR in progress.
Shares went ex rights on 4/8 and are trading as BSER, last trade 0.2c (0.002).
Who would pay for rights to buy the heads at 55c when they are offered on market today at 48c? I guess that the rights are a short dated option since you don't have to take them up. Or a way to build a position without moving the market.
Since BSE have traded below the exercise price since they went ex rights, I wouldn't give this much chance. Also, at the current SP, the rights issue is likely to flop or be withdrawn - it's only 40% underwritten and that probably has an out clause - thus there'd be another CR at a further discount.
So I expect BSER to trade 0.001 soon unless there is a positive announcement.
Last day rights trade is 7/9 and issue closes on 14/9.
Any thoughts on up-side here?
renounceable rights
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Last
27.5¢ |
Change
0.010(3.77%) |
Mkt cap ! $323.9M | |||
| Open | High | Low | Value | Volume |
| 26.0¢ | 27.5¢ | 25.0¢ | $398.3K | 1.516M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5707 | 26.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 27.5¢ | 397781 | 10 |
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| Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
| BSE (ASX) Chart |