SML news is out ...$ 200 million equity raising @ 5.10 per share ...also said IF first half sales very poor as ATM struggling ...but this we already know
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SML news is out ...$ 200 million equity raising @ 5.10 per share ...also said IF first half sales very poor as ATM struggling ...but this we already know
“ The Equity Raising is supported by Synlait’s cornerstone shareholders Bright Dairy Holding Limited and The a2 Milk Company, with pro rata pre-commitments to take up shares by them and guaranteed allocation amounting to approximately $114 million in total which have been excluded from the underwrite. The balance of the Equity Raising is fully underwritten. Further, each of Synlait’s New Zealand resident directors has committed to participate in the Equity Raising”
Then back through $16.00......
Short burning time?? :p
Well, nice little run this morning was short lived.
Usually it’s the Aussies who are less exuberant, but past two days seems A2 is tracking better on the ASX