The offer of shares in BKI to the general public at a significant discount to net asset backing is patently unfair (and value destructive) to existing holders of shares in BKI, since it will have the immediate effect of diluting existing BKI holders equity. That is not remedied by the entitlement offer to BKI shareholders. I saw Hunter Hall do this and it led to a general view that they were more interested in looking after themselves than their shareholders. The only real beneficiaries of this will be Contact Asset Management whose remuneration is based on the size of the portfolio.
This is extremely disappointing since I didn't think this was the type of thing the WHSP Group would support.
Ann: BKI Announces Entitlement Offer and General Offer, page-2
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$1.72 |
Change
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Mkt cap ! $1.380B | |||
| Open | High | Low | Value | Volume |
| $1.72 | $1.73 | $1.72 | $467.5K | 272.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 51364 | $1.72 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.72 | 18073 | 1 |
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| Last trade - 16.10pm 26/11/2024 (20 minute delay) ? |
| BKI (ASX) Chart |
