The placement price is set at 0.36 so to get the 133 Mill rm there will be issued additional 370,000,000 Shares..Now just need to see who will buy the full lot and how long they need to hold them before they can sell
On behalf of the Board, UOBKH wishes to announce that the Board had on 6 May 2024 resolved to fix the issue price for the Private Placement at RM0.36 per Placement Share.
The issue price of RM0.36 per Placement Share represents a discount of 10.00% to the 5-day volume weighted average market price of DNeX Shares up to and including 3 May 2024, being the last traded day of DNeX Shares immediately preceding the price-fixing date, of RM0.400 per DNeX Share.
So, this is the reason for the movement, it is just for this placement that DNEX need to be above 0.36, attractive to 10% discount which after done the subscription, will dash down back most probably if there is nothing substantial to backup the uptrend........
Is the 0.36 extra share issued already? as i believe this why the price been defend above 0.40 right now else who will go and subscribe if the price crash down below that..........
Then we will see whether the price still be above 0.40 once this whole placement over, most probably will crash down especially if the next coming qtr below expectation again........
until the 10% is taken up the price would not fall below 40 sen; thereafter the price movement depends on the quality/caliber of the subscriber(s) and benefits that would derived from the subscriber(s)
Likely RM0.4 to RM0.6. Since support level at RM0.4 is strong, moving up is inevitable. Whoever is taking up the 10% PP, will not look at the 4 cents difference. Hopefully it will be someone like Foxconn.
Agree. DNEX is clearly in play and not for 4 cents. Actually it has always been in play. Push up distribute all the way down and the flash crash in Jan. Now barring a broader market crash, it doesnt look like the right time to push it down again. Maybe it's a better time to push it up and distribute
Private Placement No. of shares issued under this corporate proposal 31,000,000 Issue price per share ($$) Malaysian Ringgit (MYR) 0.3600 Date Announced 14 May 2024
Hard to tell what's DNEX's game plan. Are they selling or buying now? 40cents is the battle ground. Washed down picked up, picked up washed down. It could well go either way
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8dragon
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Posted by 8dragon > 2024-05-06 12:44 | Report Abuse
Back to square one by the end of the day...