ADX 1.01% 9.8¢ adx energy ltd

rights issue massively undersubcribed, page-26

  1. 5,932 Posts.
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    John. 21m shares is a substantial overhang. The underwriters 'breakeven' is probably 12c (taking a/c of the oppies and fees) so appears plenty of room for them to 'come out square' prior to TD? This ofcourse does not help holders expecting a big run into spud imho. Guess we will know after the 7th when stock is issued. DYOR
 
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