You can't work out why they raised? Didn't you read the comprehensive documents outing exactly why they needed to raise:- there's an entire presentation dedicated to it!
They will {should] go EBITA positive by end of year if targets are missed on ACRR. (Annual revenue run rate) it's not the same thing. When they have excess free cash flow (maybe in 12-18 months possibly), they can reduce that by investing it directly into more network expansions. Prior to that any expansion would probably need to be funded.
Based on what I can see, this will probably be the last time they need to raise unless something extraordinary comes up. The new asset base + the extra working capital should get them through to a point where they should be generated nice FcF as mentioned above.
I am super bullish on this company. Although it is priced well, so I am not running out to by more right now, I am holding after participating in the rights issue.
Hello $3 :), page-16
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