Normal
this seems to be the standard reaction to listed price of any company raising capital, to have selling down to the new offer price, and how very quickly it seems to fall!! Closed at 3.17 (admittedly on a bad day and a bad week, with Ukraine unravelling)In the case of MIR, the reality is the share price had been above the NTA (last published at $3.11 for end-Feb) so there could be an argument there is even more capacity to fall, but how does that explain the trading above $4 only recently. Admittedly on low volume, and before the ex dividend event. It makes it hard to want to add to a holding any other way, if the likelihood of a capital raising is going to see that earlier invested capital under water.
this seems to be the standard reaction to listed price of any company raising capital, to have selling down to the new offer price, and how very quickly it seems to fall!! Closed at 3.17 (admittedly on a bad day and a bad week, with Ukraine unravelling)
In the case of MIR, the reality is the share price had been above the NTA (last published at $3.11 for end-Feb) so there could be an argument there is even more capacity to fall, but how does that explain the trading above $4 only recently. Admittedly on low volume, and before the ex dividend event.
It makes it hard to want to add to a holding any other way, if the likelihood of a capital raising is going to see that earlier invested capital under water.
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