It is a voting machine in the short run, but a weighing machine in the long run. (Airasia had that moment in the last 1 year, where it started with GMT)
Despite Bursa approving the placement, will it get pass the minorities hands? At today's price of RM2.13, it is after all 16.1% [(RM2.09-1.80)/RM1.80 - after dividend] premium over the price they supposed to purchase at - RM1.80.
The founders will not be able to vote and Airasia has a largely huge free float. Will all these shareholders vote for the placements - which I think needs a minimum >50% approval?
Now it seems a rights is a fairer option - but not necessarily a preferred option for the founders and short term shareholders.
But do remember, stock is a weighing machine in the long run!
r°Moi
At great discount...
16.1% discount
Now... Tony has really clouded thing a great deal.......
Now.... should credit for the recent up in price be given.. to Tony..... or low jet fuel price??
2016-04-18 08:12