Looks like I jumped the gun a bit there when mentioning FMS will receive cash in the process, I hadn’t thought that through properly before posting.
I agree gralia, the new entity receives the money raised and Flinders would probably hold a decent percentage of shares, which if they chose to sell would convert to cash.
If the new company goes well, they may increase the value of the stock held, so the spinoff may help realise the value of the assets. Still possible that FMS shareholders may receive free stock and/or options as an in specie distribution.
This happened to me when POL spun off SXG (received free SXG shares)
Looks like I jumped the gun a bit there when mentioning FMS will...
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Last
77.5¢ |
Change
0.025(3.33%) |
Mkt cap ! $154.8M | |||
| Open | High | Low | Value | Volume |
| 77.5¢ | 83.0¢ | 77.5¢ | $3.885K | 4.886K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 132 | 77.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 82.5¢ | 4000 | 1 |
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| Last trade - 12.47pm 14/11/2024 (20 minute delay) ? |
| RHK (ASX) Chart |