Since the ASX announcement enabling shareholders to acquire up to $30,000 worth of WMI shares @ $1.455 which was the estimated NTA, the share price has fallen about 5 cents.
As I see it, the main reason for the fall is shareholders are selling a portion of their shares with the intention of taking up the offer to buy @ $1.455.
When the offer closes, expect the share price to rebound to a level that is historically about 10 cents under the price of WAM Capital. Looking to the longer term, WMI is likely to increase future dividends at a faster rate than WAM. Indeed, WAM may not increase their dividend in the near term.
Depending on the WMI offer take-up, only long-term & large volume shareholders may get the full $30,000 worth of shares from the share purchase plan.
Consequently, the share price should almost certainly rise after the offer closes to make the take-up @ $1.455 worthwhile.
News: WMI Wam Microcap Says Share Purchase Plan & Placement, Raising A$75.0 Mln, page-2
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Last
$1.41 |
Change
-0.025(1.75%) |
Mkt cap ! $388.9M | |||
| Open | High | Low | Value | Volume |
| $1.43 | $1.43 | $1.41 | $260.8K | 184.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 18471 | $1.41 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.41 | 4808 | 1 |
View Market Depth
| Last trade - 16.10pm 11/06/2024 (20 minute delay) ? |
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Last
$1.41 |
Change
-0.025 ( 1.74 %) |
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| Open | High | Low | Volume | ||
| $1.42 | $1.43 | $1.41 | 84966 | ||
| Last updated 15.07pm 11/06/2024 ? | |||||
| WMI (ASX) Chart |