BKW 0.59% $27.16 brickworks limited

I bought on Friday 25th Sep relying on their announcement that...

  1. g41
    404 Posts.
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    I bought on Friday 25th Sep relying on their announcement that morning where they said that they were "...delighted with the reaction to the SPP". The only 'reaction' was the approx 7000 extra transactions the previous day - presumably by retail investors buying in to get access to the SPP. The fact that they were 'delighted' with that means that they were signalling that they were happy for those retail investors (and the 8000 odd that they would have expected on Friday) to buy in and participate. 15000 plus say half of the 2400 existing holders applying for $15000 each would raise around $240m which is below the 15% of their market cap limit which they are entitled to raise without approval.
    If there is a scaleback I think there is a good case to say that the 25th Sept announcement was misleading. Why else would they issue such an announcement? - I'm not aware of any other company issuing such an announcement prior to the SPP date.
    Note there is no institutional placement so the entire 15% limit is available for SPP unlike most of the other SPPs which is the reason for the cap on those.
    Also the directors and advisors of BKW probably were the same people involved in the BKI SPP a month prior where there was also an opportunity to buy in after the announcement but before the record date; there was no scaleback, so it would seem like they knew what they were doing.
 
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Last
$27.16
Change
0.160(0.59%)
Mkt cap ! $4.143B
Open High Low Value Volume
$27.21 $27.46 $26.87 $3.092M 113.5K

Buyers (Bids)

No. Vol. Price($)
2 388 $27.16
 

Sellers (Offers)

Price($) Vol. No.
$27.18 437 1
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Last trade - 16.10pm 09/08/2024 (20 minute delay) ?
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