Potential Raise10 Jan 2024 19:53
Currently there are 517,000,000 share in issue. Current MCAP is circa. $143m. What do Petrofac need to raise? 1/2 BN? £1/4 BN? Even if they raise just £150m @ 20p ps, that doubles the SII. Then you have to deduce they WONT raise - too dilutive. Here in lies the tricky one, what on earth will the board do, how much do they need and when do they need it? You then have to look at an asset sale + dilution as a potential solution.
When you look at the long term prospects, wow, what a business they've got, and what an order book! If it were me Id try my level best to protect shareholders, ie, no dilution, but is that possible?
A genuinely interesting situation and I think everybody is keen to see this pan out, for the good of everyone involved! That includes LTH's.