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Last heavily dilutary CR was Sky TV way back in 2020.
Sp was 33c when the 2.83 :1 rights issue at 12c per share to raise $157m was announced vs market cap at the time of $144m.
Theoretical ex-rights price was 17.5c.
SP traded as low as 15c during the CR trading period.
SML's CR is going to be a biggie - call it 4:1 at 25c to raise $200m.
Ex-rights price (based upon yesterday's closing sp of 36.5c) would be 27.3c.
So expect the sp to drift below that during the rights trading period?
Last edited by Balance; Today at 05:32 PM.
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