You see a capital raise didn't make sense to me, unless it's for...

You see a capital raise didn't make sense to me, unless it's for an acquisition which it looks like.
The AFR now has an article with an explanation. I can't see it but it says 85m non-renounceable with the help of JPM.

Honestly that's a joke. Aquiring what??? ASB have been leaking money for years, why give them anymore to make no profit on a completely different project?

And if they wanted to expand, then why wait until the lowest price in the stocks history to do it???

Sorry, the GD buyout comment made the most sense to me, CR's are for companies with dwindling money or those wanting to acquire or expand in some way. ASB has money and the idea that it wants to acquire when it can't even look after itself is frightening.

Check google or the AFR site for the piece if you access it.

Sorry guys, you all deserve better. I mean what's the price going to be 90c???