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04/09/18
22:03
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Originally posted by FlashInThePan
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Not quite right. The document says:
"The issue price of the SPP Shares will be the lower of:
$17.05 per SPP Share, which is the price at which Placement Shares were issued to investors under the Placement; and
a price which is equal to the 5-day volume weighted average price of Shares traded on ASX over the Pricing Period at the end of the Offer Period (rounded to the nearest cent).
The maximum price therefore that Eligible Shareholders will pay per SPP Share is $17.05. Afterpay will announce the Issue Price for the SPP once the SPP closes."
The Offer period is Sept 11 to Sept 17. So, if the share price during that time trades at an average lower than $17.05 you will get them at that price. Whether or not you're then 'in profit' on the 'issue date' (Sept 24) depends on what price they are trading at on that date.
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Just a clarification. If the share price average is lower than $17.05, say $16.50 at that time then we will get it at $16.50? Is this correct? Sorry for the silly question.