Based on current market price of $14.04, and assuming the no one take up the retail entitlement at $15.56, the underwriters will have to come up with the cash. Once the new shares commence trading, the stock price should go up, as you are now adding more shares into the market that are worth more than the current market price.
According to the Australian, hedge funds that sub-underwrote the deal and are apparently clawing money back by shorting the stock. I'm not sure how this is an advantage by shorting the same company you need to buy shares at for $15.56. Perhaps someone with more smarts can offer more insight.
Ann: Investor presentation - Jacobs ECR and capital raising, page-19
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Last
$13.87 |
Change
0.120(0.87%) |
Mkt cap ! $7.649B | |||
| Open | High | Low | Value | Volume |
| $13.75 | $13.87 | $13.62 | $16.71M | 1.213M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 8268 | $13.86 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $13.87 | 4066 | 2 |
View Market Depth
| Last trade - 16.10pm 29/11/2024 (20 minute delay) ? |
| WOR (ASX) Chart |
