The SPP will be a stone around BSX SP until it is fully processed. That's why I much prefer a rights issue.
Retail will be selling in the hope of getting a few pips on the SPP at 58c.
Plus some "sophisticated" demand probably would have been filled by that $55m placement. And if the SPP gets too much higher than 58c a few of those might take profits too.
But its quite likely that the $5m SPP is going to be very heavily oversubscribed. People thinking they will get $30k may not be correct. Only 167 holders need to take up the $30k for it to be all gone. $5m where BSX is now is tiddlywinks.
The SP will find some sort of equilibrium point above 58c in my view - it may already be there in fact.
Any further news could shift that equilibrium higher - eg strong placement investors (funds etc) - such as ..
Time to be patient.
...
Ann: Trading Halt, page-135
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Last
5.4¢ |
Change
0.002(3.85%) |
Mkt cap ! $28.30M | |||
| Open | High | Low | Value | Volume |
| 5.2¢ | 5.4¢ | 5.2¢ | $1.718K | 32.24K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 95763 | 5.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.5¢ | 5000 | 1 |
View Market Depth
| Last trade - 12.24pm 03/05/2024 (20 minute delay) ? |
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Last
5.4¢ |
Change
0.002 ( 3.85 %) |
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| Open | High | Low | Volume | ||
| 5.4¢ | 5.4¢ | 5.4¢ | 31091 | ||
| Last updated 12.24pm 03/05/2024 ? | |||||
| BSX (ASX) Chart |