RE: tecxx7 Feb 2023 21:47
This does not seem to add up:
'Bens Creek Group plc (AIM:BEN), the owner of a metallurgical coal mine in North America supplying the steel industry, announces that it has today been advised by MBU Capital Group Limited ("MBU"), the Company's largest shareholder, that, following demand from institutional investors, it has today sold 22,222,222 ordinary shares in the Company ("Ordinary Shares") at a price of 18p per ordinary share, equivalent to 5.92% of the existing issued share capital of the Company, to diversify the shareholder base of the Company.' [from 6pm TR1]
If there was 'demand from institutional investors' then why did they sell the shares at a 25% discount...? If someone wanted the shares that much, why a big discount? Why not a premium? After all, the SP was over £1 8 months ago.