Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James and Team, Interested to hear your thoughts on the current NGI retail share offer, especially given the drop in share price this Friday. I held this stock in good regard these last few months - but is this SPP worthwhile? Should we accept the dilution and maybe buy on market if the price breaks lower in the current fractious climate?
Hi Karl,
Navigator Global Investments (NGI) is looking to raise $47mn through a SPP at $1.55 to purchase a stake in US real estate manager Marble Capital for $133mn. This deal looks good to MM but with the stock trading at $1.45 on Friday in our opinion it makes no sense to pay the SPP price i.e. accumulation into weakness again feels the best approach.
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