Now that will confuse many punters ....should have done 1 for 3 .... ie 1 existing share equals 1 right to buy 3 shares at 35 cents .... would have made it seem even cheaper
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Hey Dassetts I said a while back the FMA should be over this and just n hour back that it should be given a 'speeding ticket' and put into halt. But i'm not clear on what you mean by the issue is a 2 for 1 then the rights are a 1 for 2? Can you clarify to me please?
The NZX made a mistake this morning with reference prices and hence it says the stock is down x% for the day when it's actually the largest daily gain in AIR.NZ history.
Has the NZX just had their very own plane crash?!
Offer Document
•$0.53 per New Share (Offer Price), representing:
−61.5% discount to the last traded price on NZX of $1.375 on 30 March 2022
−34.7% discount to Theoretical Ex-Rights Price (TERP)1of $0.81
My Calculation
Share Price on 30 March $1.375 Rights Offer 1st share $0.53 Rights Offer 2nd share $0.53 Total $2.44 Ex-Right theoretical Price $0.81
That means 2 shares for 1 share held, what I am missing here.
It's astonishing to see how irrational the market in this stock is. Setting aside today's bizarre action, it has been over-valued since, what, 2020. What other NZ stocks are trading at irrationally high or low values, or is AIR unique in this respect?