Why are Genex Power shares offering additional shares at the same price as their current share value?

Hi Paul
I currently have Genex Power shares.
They are offering a non – renounceable entitlement offer for additional shares (11 foe 20) at $0.20. There current share value is the same.
Why the same price and your thoughts on this offer?
Thanks

A: Thanks for thew question.

Because the stock on the ASX is trading at the same price ($0.20) as per the offer price, it tells you that there is a fair bit of indigestion with the stock. Perhaps the recent institutional raising wasn’t quite as well supported as the company many have liked.

The offer closes this Friday.


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