Originally Posted by
Snoopy
Nigel Morrison has gone. Not sure if Oliver Twist will be the new CEO. But the board has heard you Tim.
A 1:10 rights issue at $4.40. Ostensibly this rights issue is becasue Sky City have decided not to sell their new downtown hotel after all. Or maybe the sharemarket has reached such a level that tapping the market for new capital, for what I think is quite a high price in historical terms, was just a no brainer.
I won't be playing the roulette wheel to celebrate. But I'll be taking up my rights. I have found in the past that backing my favourite number '00' is the most rewarding way to go gambling.
SNOOPY
PS Am a little disappointed to see that although institutional investors and retail investors are being offered shares on the same terms, any undersubscription my retail investors will be offered to institutions. IOW we retail investors can't oversubscribe, but the big boys can.