Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Sold half at 206p. Felt pretty pleased with myself at the time. Kicking myself now but grateful I didn't cash out fully.
Well done to all.
Sold half at 206p - time will tell if this is a good move or not but it certainly feels like a win today.
It's heading in that direction. Hope people are enjoying this as much as I am.
@notaflipper I agree with all your figures in terms of no. of shares issued in Jan '20, and following the rights issue in Oct'20. We are also (roughly) in agreement on the share price this time last year (£3.75-£4.00).
It would appear the rights issue increased the no. of shares in circulation by just under 60% (2.97bn / 4.97bn) which would suggest that the old share price should be reduced by the same amount to reflect the dilution. 60% of £4.00 results in a price of £2.40.
Therefore, today's price of £1.85 indicates we are about 77% of the way back to the pre-covid share price?
Do people agree? Or am I goign about this the wrong way?
Tried reformatting with spaces - still no luck. I give up.
@big-blue Thanks for the input. I am only after one piece of information though. What SP today (with today's number of shares) is equivalent to the SP of £4.00 with the number of shares in circulation prior to the rights issue?
A Current Market Cap 9,370,000,000 IAG Website
B Shares in Circulation 4,971,476,010 IAG Website
C Share Price £1.88 A/B
D No of new shares issued 2,979,443,376 IAG Website
E Shares in circ'n pre-rights issue 1,992,032,634 B-D
F Pre-Covid Share Price £4.00 Input what you wish
G Pre-Covid Market Cap 7,968,130,536 E x F
H Cash raised from Rights Issue £2,500,000,000 IAG Website
I Pre-Covid SP with todays share circ'n £2.11 (G + H) / B
As suspected the formatting was lost but hopefully you can see the 4 columns - letter, description, value and source of info.
Folks,
It would appear I am not the only one that is looking to calculate the appropriate recovery reference point to compare today's SP with. Personally I consider 400p to be the pre-covid benchmark but following the additional shares issued at the rights issue, the 400p must be reduced to reflect both (1) the additional shares in circulation and (2) the additional cash raised.
I have struggled with this calculation but think I am either there or at least getting closer. I am looking for others to point out if my calculations are correct or not. I'm hoping the formatting doesn't mess up as I post but here goes...
Source
A Current Market Cap 9,370,000,000 IAG Website
B Shares in Circulation 4,971,476,010 IAG Website
C Share Price £1.88 A/B
D No of new shares issued 2,979,443,376 IAG Website
E Shares in circulation pre-rights issue 1,992,032,634 B-D
F Pre-Covid Share Price £4.00 Input what you wish
G Pre-Covid Market Cap 7,968,130,536 E x F
H Cash raised from Rights Issue £2,500,000,000 IAG Website
I Pre-Covid SP with todays share circulation £2.11 (G + H) / B
So, I am right in thinking that with the current number of shares in circulation, a SP of £2.11 is equivalent to the 'old' price of £4.00?
Let me rephrase...
Today's share price of 165p is equivalent to a price of X pre-rights issue. I would like to know what X is and how people calculate it.
@big-blue thank you for your help - I followed your logic perfectly until the end when it suggested 414p - which would suggest we are already back at pre-pandemic prices - which just can't be the case. I think I am being incredibly slow and you have answered a slightly different, but related question - I just can't figure out what!
Hello folks,
Long time reader, first time poster. Looking for a some guidance.
In anticipation of a potential exit later in the year if/when the any economic recovery has been largely factored into the share price, I'd like to understand how the current share price (for ease let's just say 165p) relates to the historic (pre-rights issue) share price (again, for ease let's just say 400p).
If my exit is governed by a function of the current price vs the historic price (le's say 80%) I would have looked to have sold my shares at 320p (80% of 400p) but the rights issue has made things slightly more complicated and I can no longer use 400p as the baseline value to determine how much of a recovery the share price has made.
How have you kind folk established what share price with the current shares in circulation would be indicative of a full recovery equivalent to the 400p with the historic no of shares in circulation?
Lastly - does Yahoo Finance accomodate for rights issues in their historic share price chart ? Is this why they show the historic price to be 600p rather than 400p like most other share price charts?
Thanks in advance