PLX 0.00% 75.0¢ pyrolyx ag

being capped pre rights issue

  1. 111 Posts.
    It seems this stock is being capped pre the rights issue to shareholders on a 1 for 1 basis at 4c.

    With an underwriter prepared to underwrite 18m shares at 4c there is obviously an appetite for the stock.

    On this basis the only way there will be a major shortfall so the underwriter can actually gt the stock at 4c is if the stock is not significantly higher than the 4c at the expiry date of 14/8,or when you have to send your money in .

    If you were underwriting the stock and didnt want to much of a shortfall youd expect to see some buying in so people exercised there right ,if you did want the stock youd make sure there was weakness or a price around the 4c equivalent

    This is what seems to be happening,

    With the small cap sector running a shell with just 26m shares on issue and 400,000 in the bank with a rights issue that will see it end up with 56m shares and over 1.5m in cash seems worth keeping an eye on.

    I hold PLX shares purely on the basis of the above , it seems as though somethings is getting set up for a big back door.
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Mkt cap ! $88.36M
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Buyers (Bids)

No. Vol. Price($)
1 25000 73.0¢

Sellers (Offers)

Price($) Vol. No.
75.0¢ 10844 1
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