The whole purpose is to discourage retail investors from buying so underwriters CS can soak up the remaining stock not taken up. CS will average down their SP, a known buyer (to CS) will come in and offer 60c, citing a 50% premium and CS makes a mint. Then asset sales, possibly admin, creditors get paid, and the remaining ordinary shareholders may get 5c in a complete buyout as they are on the bottom of the heap. My opinion only, and food for thought, even if any of this comes true our regulators should be asked why they didn't see it coming!
sell an entitlement vs do nothing ? , page-7
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Last
$20.52 |
Change
0.570(2.86%) |
Mkt cap ! $9.030B | |||
| Open | High | Low | Value | Volume |
| $20.23 | $20.56 | $20.18 | $40.14M | 1.957M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4944 | $20.44 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.58 | 14967 | 1 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| BSL (ASX) Chart |