Why Ezion drop so much?
Price drop because of selling (this is my usual answer). So the question is why people are selling?
"proposed a renounceable underwritten 3-for-10 rights issue of up to 487.31 million new shares at an issue price of 29 Singapore cents for each rights share, which will raise up to S$141.3 million". - Business Times
"Funds raised from the issue could be used to help fit out and re-purpose its fleet, buy marine assets and boost operational flexibility, it said in a statement late on Thursday (June 30).
Ezion proposed issuing up to 487.3 million rights shares at S$0.29, or a discount of about 44 per cent to its closing price on Thursday." - straitstimes
What are Rights issue
- an issue of shares offered at a special price by a company to its existing shareholders in proportion to their holding of old shares.
Will i Subscribe the rights?
Click here for Our previous post - common reason people subscribe to the rights
- Noble Group - Rights issue should you subscribe?
When Ezion is going down from $1.99 - Time to sell, most people never sell
When Ezion is going up from 95cents - Time to buy, most people never buy
Read here ==> Congrats on 45% Gain for Ezion!
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