https://www.stuff.co.nz/business/mon...-air-nz-shares
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I wish they would just get it over and done with.
Two years of waiting.
Halted pending announcement on recapitalisation plans.
Ann 6.30 tonight
Prob on TV1 news to promote it;)
No doubt a song and dance will be made about them opening up to revive and thrive but here's a quick look at all the competition that have so far announced they are coming back or are already back here and flying https://www.stuff.co.nz/travel/news/...to-new-zealand
JTH, you stand to make a killing on your short position. Congrats and well done.
I would assume anyone short would be forced to take up their rights, and hence would only profit if the price falls bellow the weighted average of the short price and price the new shares are issued at?
Only a small short on this. I struggle to see how it could go wrong, however I don't like to make big plays on very obvious things as surely the market has positioned themselves for it. Some funds were clearly selling down the last few weeks, but who the hell was buying??? Seemed really odd.
Correct. But with such a large issue there is likely to be many holders picking up rights that weren't taken up, so would expect the price to fall below the new 'weighted' price.
A LOT of lipstick needed for this pig. Here we go...
http://nzx-prod-s7fsd7f98s.s3-websit...769/367765.pdf
2:1 issue at 53 cents. Don't say you weren't warned folks, such a drastically discounted issue has been talked about on here for many months.
Everything is going to come up roses by FY25, so they say and be 90% of what they were doing before Covid Hit.
My comment, that's amazing clarity from their crystal ball.
Losses for current year now forecast to be less than $800m
My comment, there's a reasonable chance that will be fairly accurate as they have ~ 9 months of FY22 trading under their belt and a good indication of forward bookings for the next few months but they will have no idea now of the trading conditions in FY25 and neither will anyone else.
Rights can be sold, trading starts 6 April finishes 26 April
Theoretical ex rights price is $0.81, shares trade ex rights 6 April
Get in early if you want to sell your rights. In my experience with nearly every rights issue I have seen as you get closer to the final date of trading the rights lose value and the share price converges upon the new issue price, in this case 53 cents.
2 for 1 at 53 cents