Hopefully they take the weekend for a good book-build and sell the lot. I think the company will be better off with new shareholders who have a long term vision for the future of the retirement industry in New Zealand.
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Hopefully they take the weekend for a good book-build and sell the lot. I think the company will be better off with new shareholders who have a long term vision for the future of the retirement industry in New Zealand.
EDIT: I was obviously far to slow to post and was clearly wrong. Please ignore:
[Quadrant maybe though I would expect they would wait for the ASX listing first so maybe an announcement/timetable for ASX listing.
An acquisition by them of a small player is another option though no need for market halt unless they need to raise cash for the purchase.]
Is it the market price that may dip after the halt or do current shareholders have access to a potentially discounted rate? Would the general consensus be that SUM are a good long term investment which should only continue its trend?
They will be offered at a discount ($2.90 suggested above) so some buyers in the placement may sell for a quick profit.
It will be a placement to institutions and through customers of the brokerage firm. Existing shareholders will not get the opportunity.
It is a good company but whether it is already fairly prices in the $2.90 - $3 range is the question. I was looking at it when it was $2.60 but sat on it too long and they shot up to $3.20. THis pull back has me interested.
Does anyone know which brokers are placing shares in the Quadrant selldown?