Listed companies often see smaller raises throughout their developmental years.
The key is to watch when they do the larger underwritten raises after the share price has been decimated. This is where ICT are right now!
Election result certainly favours ICT now (incl rest of RTO industry). I guess those that recently sold on the uncertainly may look to re-enter. Given the proposed changes under a change of govt, that uncertainly was very valid.
The two rights issue date amendments were election result driven imo.
Also key technical standout for me is the low volume of this sell down.
Combine that with director purchases averaging +10c
Combined with election result, wouldn't be surprised if this is back over 10c not long after rights issue is completed.
ICT Price at posting:
3.6¢ Sentiment: Buy Disclosure: Held