Q: Please comment on the current offering. The market does not seem to like it at all. thanks
5i Research Answer:
The deal was sold to a 'single buyer' so it does display good confidence from the buyer, certainly. The issue was also priced at a premium to the market, another good sign. We see this as case of the company taking some money at a good price when offered. With the stock up so much this year we would not see the drop on the news as overly significant.