Overnight we learnt that Goldman and UBS were seeking buyers for almost 1 million CAR shares which were left over from its entitlement issue, bids for the bookbuild shortfall were requested from the $19.95, entitlement offer – we expect the 900,000 shares will be snapped up well above $20 but fund managers current appetite will be interesting.
- We will be watching CAR carefully encase it endures a kneejerk move on the downside post the raise.
MM likes CAR for around $20
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