That was shocking.
Why ASX listed companies do this makes no sense:
Their own shareholders shares are worth less so they can be offered cheap shares?
The MC of the Company is decimated, Wiping Millions off the Companies MC and making Management look Bad,
People lose faith in management as why the heck would anyone raise at such a discount....
Happens all the time on the ASX often the Day of a Pump.
When they could have waited a week or two to get the VWAP up,
And raised at a better price,
Which is good for them, the Company, It's MC and Shareholders.
ASX and ASIC should not let such discounts happen....IMO....
