Read? Right issue back again (6)
Read? Reits and their rights issues: How you initially react when you first hear it?
Rickmers Maritime announces S$102m rights issue
Singapore: Rickmers Maritime is undertaking a non-underwritten
renounceable rights issue to raise gross proceeds of up to approximately
S$101.7m (US$81.5m) to help keep its banks happy.
The rights issue will be offered on a 1-for-1 basis at an issue price of S$0.240 per unit.
This represents a discount of 33.3% to the closing price of S$0.360 per unit on the Singapore Exchange Securities Trading Limited on 18 March.
CW8888:
Example of "good" right issues for retail investors depending on passive income???
Taking it back from investors???
O$P$!!!
The rights issue will be offered on a 1-for-1 basis at an issue price of S$0.240 per unit.
This represents a discount of 33.3% to the closing price of S$0.360 per unit on the Singapore Exchange Securities Trading Limited on 18 March.
CW8888:
Example of "good" right issues for retail investors depending on passive income???
Taking it back from investors???
O$P$!!!
Hi Uncle8888,
ReplyDeleteI am vested with Rickmers. Seems like
I have no choice but to take up the rights issue.
:(
That is the right to do; otherwise get diluted for future corporate actions undertaken by the company.
DeleteConsolation is that it is now less leveraged after right issues.
"a non-underwritten renounceable rights issue to raise gross proceeds of up to approximately S$101.7m (US$81.5m) to help keep its banks happy."
ReplyDeleteThe 2 conditions(non-underwritten & to keep its banks happy) of rights issue are not attractive at all. It's not yield accretive, isn't it? Even though i know nothing about Rickers Maritime. Maybe there is more to it than the 2 conditions.
It's a renounceable rights issue so you can sell the your NIL-PAID-RIGHTS if you don't wish to take up the rights. Of course provided there is a market for your NIL-PAID-RIGHTs.
Another words, don't throw good money after bad if you think so.
This is imo only.
Not vested!