Please explain:
Bad News:
1. Rights issue @ 10c, dilution of shareholders wealth
2. Oversubscription of insto placement, further dilution of shareholders wealth
Good news:
1. Reduction of debt
2. Insto confidence
3. Good outlook for sector
Can someone tell me why the stock has managed to trade @ 17c today when SHs will be receiving new stocks for 10c soon, many of whom will probably be looking to offload their new shares for a quick profit should it continue trading at these levels. I dont think the reduction of debt justifies paying such a high price for the stock. And the NTA per share will now be 20c? or even less right?
Does anyone else see a drop coming? Or have I totally read into this stock wrong?
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$1.79 |
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