Katanga Mining Ltd Ord KATFF

The new share offering price may be around 0.264 Cdn

[Sogosohubidu201]

15 x 1.91 = 28.65 billion of new shares to raise 28.65 x 0.264 (75% x 0.352 last 5 trading days prior today) = $7.6 billions Canadian cash.

[InternalAudit68]

This post has been removed in accordance with Community Policy

[InternalAudit68]

This post has been removed in accordance with Community Policy

[Lech1988]

Why would anyone buy at that price Sogo? The outstanding shares will be 15x and your have to buy above market? That makes zero sense. 

[Sogosohubidu201]

Glencore will buy if minority shares do not buy. Total share count will be 30.56 billions.  The market cap at the current share price is about $5.8 billions Canadian

[Lech1988]

Its VWAP of last five trading days from the date of filing the final prospectus. This hasn't been done yet, only the preliminary has been filed. so unless we have a miraculous recovery in the price the right offering will be at a much lower level and the ratio will be much worse than 15:1. 

[Sogosohubidu201]

I do not think that will change.  It will be manipulation if doing so. Otherwises why not wait for the end of next year to do that when the debts are due?   This is the worst possible time with the worst possible method for Glencore doing this to minority shareholders just before the big financial performance to show next year. It is unnecessary for Glencore to squeeze out the last