Change in substantial holding ann just out. It seems NAB has "sold" 34 million shares by virtue of contracting JB Were to do so on its behalf for price range 80 to 90c. JB Were thus has become a substantial holder with 34 million shares and will underwrite the shortfall at 80 to 90c.
This could explain Thursday and Friday's price moves - but Icannot see how it explains today's. Perhaps people got wind of this "overhang" and baled today.
However if my take on this is correct, JB Were will not want to sell for less than 80c.
Has anybody else read the announcements and tried to make sense of them and the implications for AFG shareprice?
Change in substantial holding ann just out. It seems NAB has...
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Last
$1.63 |
Change
-0.020(1.21%) |
Mkt cap ! $441.3M | |||
| Open | High | Low | Value | Volume |
| $1.66 | $1.67 | $1.63 | $396.3K | 240.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 26320 | $1.63 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.65 | 24185 | 1 |
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| Last trade - 16.10pm 12/11/2024 (20 minute delay) ? |
| AFG (ASX) Chart |