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I wish all my shares did the same. Besides, it is no guide to the price shares will be once the quote is resumed, It's the premium paid as part of fund raising. Presumably the new investors think it is a good investment and do not expect a massive collapse in value on being requoted.
You say they are valuing the newly issued shares at a 71% premium to the previous share price.
That ignores all the new assets, the whole point of the RTO. It's highly unlikely shrewd new investors would pay a premium based on the value they calcualte it will achieve in its new form.
More likely they calculate they are investing at an early stage to gain a discount on the future value they anticipate.
Thanks AJ for the injection of realism. Surely the placing price is no real guide to the future? New investors hads to see potential so a discounted placing was essential to get this huge deal off the ground. Until it is requoted we cannot know at what level the share price will end up being.
On level 2, 0.19 is simply the last price at which they were traded and it's what LSE shows above. The current price is shown as 0.00. I'd say it is a glitch with Halifax who are now showing the last trade.
I do share all the same high hopes as other optimistic regulars here.
It does seem as if Drexler is almost wishing it to fail, but is he entirely convinced? He seems to be hedging his bets in case it succeeds!
He finishes saying
" If it goes ahead well done to Truell and BOD for navigating/pathfinding the deal through unprecedented value destruction market conditions."
Many thanks for your interesting, insightful posts over the suspension period, it's made the wait less frustrating. I do hope your most optimistic projections prove right. Some investments have suffered due to Covid, this one could really benefit which your comparison of Hammersmith v. a Swiss valley makes a more believable possibility.