PDN managed to raise $300 million overnight, through convertible bonds. The conversion price is $US5.665 per share, which should have declared a value to the market.
The fact that the takeup was completed overnight demonstrates confidence in the company. The company can now settle all its 2011 bonds, and have $50 million left over for working capital.
I have absolutely NO idea why the market is reacting negatively - no matter how hard I look into it and think about it, I really can't see a negative aspect to it at all...
Can anyone else enlighten me as to why this was a bad thing?
I admit to being completely stumped by the market reaction and selldown?!?!?!
Especially with the uranium spot price shooting up - it's now up to $52.50/lb
PDN managed to raise $300 million overnight, through convertible...
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Last
$13.01 |
Change
-0.160(1.21%) |
Mkt cap ! $3.889B | |||
| Open | High | Low | Value | Volume |
| $13.10 | $13.15 | $12.94 | $22.67M | 1.736M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2527 | $13.01 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $13.02 | 2319 | 2 |
View Market Depth
| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| PDN (ASX) Chart |