Post by
shenty46 on Nov 07, 2019 2:29pm
LOL, IT ALREADY HAS
It already has 2 billion outstanding shares, at market capitalization of around 400 million now, so for around 6billion right issue, how many shares will be issued, may be 30 billion outstanding shares, LOL. Zero is the target price.
Comment by
Lech1988 on Nov 07, 2019 3:13pm
Yeah this is exactly my point. We know how much they have to raise, if you don't take up the rights offer you will be diluted to zero.
Comment by
Brandonrr on Nov 07, 2019 3:21pm
it seems like glencore has found a way to bascially own all of the comapny and shareholders will be left with next to nothing
Comment by
InternalAudit68 on Nov 07, 2019 3:25pm
This post has been removed in accordance with Community Policy
Comment by
Lech1988 on Nov 07, 2019 3:43pm
Except it's no longer a 15:1 rights offer. they have to raise a certain amount of money...as the shares tank the ratio becomes insane. Instead of extending the loans Glencore are effectively diluting all other shareholders until they own 100% of the company.