By Nigel Somerville | Thursday 25 June 2020
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
I suppose that 56% would probably go down as a success in normal times for an open offer from Stobart Group (STOB), but given that it was fully underwritten by placees and at 40p as opposed to the previous closing price of 69.2p, 56% looks pretty poor. Thanks gto the underwriters £100 million was raised but it gets worse….
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