RE: Share option5 Jun 2025 20:42
Because if they just entree the market with the huge amount of shares the insti's want the price would spike crazily so they will most likely just take the closing price on the day the book build is completed.
Also, if newmont wanted to sell a good chunk would drive the price down and they lose out.
Do for an orderly market they are doing it this way. You realise once this is completed that all those shares are in sticky hands and tr1's will be released which in turn will bring more buying.
So technically you get to buy at that closing price with pretty much a guaranteed higher price not long after purchase