Crikey yes! - unless your name is Steve.
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And he went on to gain a knighthood and then had it stripped on kiddie porn charges. Do the super successful ever learn? ;)
If StockCo is earnings accretive and the rest of the new capital is put to work then the sp should recover quickly and $1.80 will be seen as a gift. I hope.
Regardless of the flannel about wishing to encourage more institutional investors for the sake of liquidity, as I understand it the Placement and SPP at a deep discount is a crock for individual shareholders, who cannot outlay more capital to ensure their holding’s relativity is maintained. In effect the value of their holding has been undermined. A rights issue and bookbuild (as ANZ recently undertook) would have at least given them a share of the premium to the heavily discounted issue price.
Who's in for the shares? Pretty quick turnaround to make decision. Buying on market after trading halt might get similar results.
I do not like SPPs.
Seems stupid putting up a good deal of capital to get scaled back to 5% to 15% of what I applied for.
Rights issues are the only fair way as per the reasons you pointed out.
HGH have had plenty of time to organise a rights issue..
I have applied for a good number of shares in the placement for both myself and the wife.
See what happens.
Simple question for our experts ....Is HGH now a SELL ? If not then whats its fair value at present ? still $ 2.10 or below ?
Next year EPS as per guidance and new equity is 16.3 Cents ...so basically flat !!
In the current enivornment that might be considered an OK result.
The AUS banks have the advantage that the economy is just bigger.
And China really needs AUS minerals even if it doesnt need the Wine. But Chinese drinkers do like Aussie Wines which mean the communist party really needs to fight those Wine loving citizens....
Your an Expert now..
Banks will be very busy trying to get control of Risk and meet ever increasing Regs which means technology investments.
Closing branches the only solutions for some?
They are offering at 1.80 ....discount is for attracting capital in such high rates environment ....why it should go below offer price ?
Also whats the maximum allowed for retail investors ? I dont think anyone will get so much that they can influence the market price
After initial knee jerk downside on opening ...I think it will settle back to around 2.10 levels ...thats my thoughts ...what say others