It is material.
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I have been expecting the NZX Main Board announcement, but it has also been written elsewhere they have been contemplating listing on ASX or another Asian Exchange. http://www.weeklytimesnow.com.au/art...661_dairy.html
Just looked at their market cap - $400m!!!
Why are they still on the NZAX?
They only have $37m of equity and $10m of that relates to goodwill. PE of 89 (all per Google) so a growth prospect?
Trading halt again. It was basically nothing they placed the trading halt. Wonder whether this time will be equally insignificant.
capital raising and sell down at 50c. Looks like existing shareholders are being screwed. That is a massive discount. No SPP or rights issue to avoid dilution. This is a pity.
I have no position, but am disappointed for retail investors.
I have recently bought some shares after selling my FPA Shares. At the same time I increased my holdings in DIL & BFW. I would have liked to taken part in SPP because it screws existing shareholders with dilution.
The minimum subscription to buy at 50c is $500K . I'm not that rich.
Did they give you a descent sized allocation of ATM?
I don't get it.
ATM is already listed and at anytime of any trading day, any investor is free to buy or sell ATM shares.
Why should it be any difference because a few big shareholders are selling down? Especially as the reason for selling down seems reasonable - i.e.. to facilitate relist onto NZX main board?
What size was the XRO placement in relation to the capital already on issue? How does that compare with the ATM placement? I know such placements do happen but generally the dilution should not be that bad. I remember when PGW did their initial placement of new shares to Agria, it was at a premium to market price. Mind you PGW does make real money (as does ATM), and XRO does not.
SNOOPY