Been trying to get a line on the Red SP value post allocation of tranche 1 and 2 plus the Great Western share issues. My calcs says that we are going to have a dilution factor of 36.2% post May 13. Extrapolating this from the 23 cent present SP gives a pre dilution SP of 36 cents. Not bad considering the hammering it took on the Q3 down grade.
Using the 18 cents issue price of the new shares, extrapolating this to pre dilution would give a valuation of 28 cents. The SP just before the March 26 TH was about 23.5 cents, recovering from a low of 20 cents post Q3 downgrade. Looks like the market is trying to value Red at about 23 cents (pre dilution 36 cents). Acid test will be post May 13.
Undervalued or overvalued?
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Last
34.5¢ |
Change
0.010(2.99%) |
Mkt cap ! $2.346B | |||
| Open | High | Low | Value | Volume |
| 34.0¢ | 35.5¢ | 33.5¢ | $13.13M | 37.89M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 27 | 1581988 | 34.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 35.0¢ | 605979 | 8 |
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| Last trade - 16.10pm 08/08/2024 (20 minute delay) ? |
| RED (ASX) Chart |