Lucky they raised that 754m otherwise the market cap would have been negative 240m by now. That is negative 8 cents per share!
Hard to believe the market thought ARI was worth a billion dollars six months ago when in fact it was worth negative a quarter of a billion! Given that reality, had they not raised the capital, the board must surely have had to put the company in admin as there must have been something seriously wrong!
Without the raising it could have been the first company in Australia with an actual business to go from the ASX 100 at 75c per shares to a de listing and a share price of -8c per share in under six months. This demonstrates what market leaders some of our Australian companies can be. I am sure many other boards are looking on with envy at this trendsetter, and I expect many others will soon follow to claim the fame!
ARI Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
