Very unlikely.
Why bother - you don't want to be caught manipulating the share price and for several other reasons.
Bearing in mind that the current free float shares on issue is only about 16 million - that is not a lot of shares ( dollars). The actual number of shares in loose hands is a lot less, and mostly in the hands of traders/flippers.
Hence the extreme volatility we are seeing.
Small cap funds interested in building up a stake are not likely to be buying on market ahead of the completion of the deal - (and there is not enough info for their due diligence). And you can be certain that already some fast moving small cap funds would have contacted SPA looking for a chunk of shares in the 8 million placement. SPA indicating that it could be more than 8 million shares is telling us that the indicative demand is strong.
Assuming all good with BP financials/story at EGM - I'd expect a few small cap funds will be offered shares in the placement and these groups and others will provide the post listing buying support. The free float post the relisting will be only about 35 million shares (exclude BP issued shares 40+mill). That is a round of drinks at about $12m based on a share price of 35c. 3 funds looking for 5 to 8% holding will need 12-18 million shares.
Tight as a drum is my prediction.
I'd like to be able to buy low, sell high and still keep plenty going into the relisting on 23/12 ..... will need to invest in a fail safe crystal ball for that.
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1.6¢ |
Change
-0.001(5.88%) |
Mkt cap ! $10.97M |
Open | High | Low | Value | Volume |
1.8¢ | 1.8¢ | 1.6¢ | $16.01K | 972.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 224715 | 1.6¢ |
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Price($) | Vol. | No. |
---|---|---|
1.8¢ | 244044 | 2 |
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1 | 165218 | 0.029 |
1 | 36666 | 0.027 |
1 | 384615 | 0.026 |
1 | 380000 | 0.025 |
1 | 250000 | 0.024 |
Price($) | Vol. | No. |
---|---|---|
0.030 | 141885 | 1 |
0.035 | 441745 | 3 |
0.036 | 213291 | 1 |
0.037 | 652681 | 3 |
0.038 | 600000 | 1 |
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