I've seen SPPs that the market price was 50% above the issue price and they still went undersubscribed.
MEL has a market cap of $85M according to my screen. An SPP raising $20M is a fair chunk, so my guess would have been it would have gone undersubscribed considering the size and price action, and my evidence is contact with the company. They said they expect it to go undersubscribed.
Sounds to me like someone has a case of the 'Mondayitis'... poor old working stiffs.
I'm with you sbatt74, early retirement is the way to go :)
spp participation, page-22
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Last
0.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $5.830M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 2105211 | 0.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.5¢ | 3778476 | 8 |
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