ATM: prior to the announcement there 604 million shares on issue. They are issuing another 40mill.
Not that bad I suppose. Still there is dilution and inequality among shareholders
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ATM: prior to the announcement there 604 million shares on issue. They are issuing another 40mill.
Not that bad I suppose. Still there is dilution and inequality among shareholders
I'm only small investor compared to some investors who post here. I only have 5000 Shares in ATM, but I would have liked the opportunity to buy another $2000 worth at 50 cents.
I am also not impressed to see my holding being diluted, while I have to agree with Winner69, being a small investor has little clout in matters such as this instance they do want they want to do. But: the CEO / board needs to understand that they need small shareholders on their books, the likes of ATM would not be able to list on the NZX without us.
I also am disappointed that I didn't get the chance to buy more shares. I also am a small shareholder (33,000 shares) but I would happily have bought another 33,000 shares at 50 cents.
And like others I'm disappointed that the shares were sold at such a huge discount to market value
Rights issues aren't that hard. Pretty much a template document though there are additional costs involved and does take slightly longer than the 3-4 days this has taken.
The NZX (as a market operator) should try to discourage these discounted placements to the rich to try and encourage the small guys into the market.
The fact is, this is the way it works, us small guys just have to deal with it.
In my view, ATM is also a bubble on the market just like Xero. I wouldn't buy into it unless it is below 20c. As with any bubble, it may take an awful long time to drop to the actual value it is. But it is just not worth the high risk of bursting!
Well done the Bowman, a superbly negative post, i think you will pick some up later today at a real discount .
Looks like 52 cents soon?
So how many of those who expressed disappointment at not getting shares at 50 cents are now lining up to buy at 50/51 cents?
As with Fonterra, I only expressed disappointment with the process. I do not know enough about either to have been interested.
I also expressed disappointment at XRO not offering a placement to small shareholders (as they have done in the past) and I am very disappointed I wont be able to buy in at $6 which is probably a lot closer to proper value than 7.75 where I sold out. If it dropped down close to $6 again, I would buy back in.
I also bought into STU at just above the placement price though I viewed that differently as that was a shareholder placement, rather than a company initiated placement as is the case with ATM, FSF, and XRO.
Plenty of volume sellers now lining up at 53 cents. I can only see small scale retail buying at 52 cents.
Question of time before one breaks rank and it's 52 cents.
My point is that too many look at the pre-placement price of 68 cents and get themselves excited at 50 cents.
The market is not that dumb and the brokers would have canvassed their client base enough to assess that the placement had to be done at 50 cents to be successful. There was never any real opportunity to make a 20% or 30% gain, post the placement.
Sparky or anyone else who got in on the placement, were you scaled back?
I picked up some more at 54 cents. If the stock drops little bit more I'm not concerned about it. When I buy something, I look at the potential future growth over the next 3 to 5 years.