Q: Just a comment. Quite some time ago GSY was trading around $90 and issued a huge number of shares significantly under 90. The deal sold out plus the over allotment. The market price dropped of course on high volume. I realized that the firm buying the shares were fully expecting that the value of GSY hence the share price would go well beyond $90.
I apply the same thoughts to PRL
I apply the same thoughts to PRL
5i Research Answer:
The recent deal is accretive to PRL and the equity issue increases its market value and tradeable float. Both of these should be positive for the stock over a longer term.