Thoughts on AD8’s SPP
Hi Market Matters Will you be participating in the AD8 SPP at $13 regards Debra
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Answer
Hi Debra,
We are sitting on a 50+% profit on our 4% weighting in Audinate (AD8) in the Emerging Companies portfolio after taking profits on a third of the position following their strong report last month. We continue to like Audinate with software and video growth to support strong earnings growth over the next few years.
The SPP closes on the 3rd of October, allowing retail shareholders to bid for up to $30k worth of new shares at $13/sh. Generally, we would not bid into an SPP without at least a 5% discount at the raise price which translates to $13.65 in this case.
