Sorry Pledge, your logic is totally wrong. It’s true that we now have higher number of issued shares, BUT the money that was raised will add to the market cap of the company. So the market cap of the company will be 98 million dollars higher than before the capital raise. Here is the link that explains better:
https://youtu.be/U_4L0KANHpY?si=cIayGvHbwGLmq9dG
Taken up the entitlement?, page-281
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