The 2.50 offer had 99% chance to result in a 2.50 share price since an arbitrage exists between the offer price to instos and higher market price. Hence game plan was sell like mad everything above 2.50, buy it all back at 2.50 via the offer - same shares as before now with cash in the bank :)
If shorting was allowed they could short on the way down for a double whammy.
Another arbitrage existed inside the scheme IPL put towards DXL a while ago - that also made the shares tank like mad and flirt with various SP trigger points. Entry was better at that point via DXL not IPL - many on here made money with this no-brainer.
So nice of Incitec management to give hedge funds weapons to kill it with. I agree great case study for an MBA program.
will ipl go to 2.50?, page-44
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Last
$2.96 |
Change
0.000(0.00%) |
Mkt cap ! $5.748B | |||
| Open | High | Low | Value | Volume |
| $2.94 | $2.97 | $2.93 | $17.85M | 6.047M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 43989 | $2.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.97 | 135691 | 6 |
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| Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
| IPL (ASX) Chart |