If Sky don't request a trading halt, then the NZX will, because the stock is about to go bonkers.
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Now that the retail entitlement closed, we should see price firming into +.20c range in days ahead.
Best case I think I could realistically hope for is a IFT-Brookfield takeover of $600M. That would be like them offering $450M before the Capital Raise.
That would be ~35c/share. I would get out of this with my balls still attached and even a 2c/share profit (assuming I get my 120% allocation).
That would be a fantastic outcome given the huge paper losses I have been showing.
It would be a dream come true if there was a bidding war. But I think that if it does turn out to be IFT-Brookfield they will be able to wrap it up quick smart. As Ogg has said, the likes of NBC do seem to move slowly.
Remind me when the new shares are issued to retail?
It is unlikely anything will happen today with takeovers (hope i am wrong)...I think the earliest there will be an offer is August...
If IFT and Brookfield are about to buy Sky I think it would happen soon.
By the way, the $300M raised by IFT would equate to half of the $600M I mentioned earlier. IFT have capacity to go up to half a billion post CR...so in theory they could participate in a purchase up to $1B.
No way in hell would they pay that just for Sky TV, but I am just saying they have capacity for a strong starting bid and could even push a bit higher if other interested parties also came in and started bidding.
Nope, didn't buy anything (it was payday too!).
No SKT announcement yet but IFT in trading halt pending announcement! https://www.nzx.com/announcements/354419 Is this the start? Or is that standard after a capital raise announcement?
Guys ....don’t forget Infratil have another $180m cash coming from Tilt next month
Jeez. ..they got heaps to play with