They always do it, wait for a bit of a rally, someonme will be selling the shares at a higher price and be involved with the placing. Lots of pumping going on again for the next false dawn called Zema approval.
my take on this is more a case of forward selling ghost shares that still haven't hit the market yet therefore all majority of buys are still not nudging up the sp yet some sells are not pushing it below 4.25p placing price.
since all this forward selling by the brokers with NEW recently so wont surprise me one bit if they is why the sp is not rising with all the buys. IMO still got 6-7m ghost shares to off load 'above' the placing price before we move in either direction.
who else would be selling today on a 20% dip when ZEMA around the corner....?
We've dealt with worse though Klue, unfortunately. Raising a bit extra now must have been a requirement, otherwise I'd like to think that Alex would have done so after approval, with the sp at a higher price. Not allowing myself to ponder on it for too long, but I reckon we have to trust that approval must be coming. Anything other and this fundraise will obviously have been completely unjustified.
The chairman discounted shares and the MMs moved the SP down, whether people bought or sold it mattered not initially as the MM was well within rights to move the SP nearer the range of the placing, just close enough so as not to allow PI's to buy shares at the placing rate. Yes it is likely to go back up at some point but your notion this is oversold is frankly nonsense as the SP did not drop on sells as according to you interpretation most trades were buys anyway.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.