Citi 13/05/2014
Karoon has always sailed close to the wind, the broker notes, in raising incremental capital and then trying to farm down assets before the money runs out. To date it has been successful and avoided sustained dilution, but having gone into a trading halt on May 1, KAR was meant to come out yesterday but has extended to May 19.
The broker suspects KAR is having trouble with this farm-down and will raise $200m in capital, the more dilutive of the options. Value would still be supported, the broker suggests, at the lower resultant share price. For now the broker retains a Buy rating and $5.88 target.
Citi 13/05/2014 Karoon has always sailed close to the wind, the...
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Last
$1.90 |
Change
0.010(0.53%) |
Mkt cap ! $1.523B | |||
| Open | High | Low | Value | Volume |
| $1.90 | $1.91 | $1.88 | $8.431M | 4.439M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 57900 | $1.89 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.90 | 141847 | 6 |
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| Last trade - 16.10pm 16/07/2024 (20 minute delay) ? |
| KAR (ASX) Chart |