So Ansell does a $338m placement at a 5% discount followed by an SPP to fund the BarrierSafe acquisition, costing Ansell $17m in discount and even more in fees.... The IBs clients get cheap shares and small retail shareholders might get $15,000 worth in an SPP... Nick Motteram, MD here at On-Market BookBuilds, reckons it begs a couple of questions: - What about the rest of the shareholders who were legally eligible to participate in the placement but were not invited to bid? - Was the placement done at the right discount for what should be an accretive transaction? ASX BookBuild could have answered these questions, but I guess the Ansell board will never know....AFR story here: (VIEW LINK)
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