Ryman rights trading ends on a sour note

Salt Funds' Matt Goodson said time will tell whether Ryman shares are cheap. (Image: Salt Funds)

Wed, 01 Mar 2023

Ryman Healthcare’s $902 million rights issue is drawing to a dismal close, with the price of the rights falling as low as 7.5 cents on Tuesday, the last day of trading.Two weeks ago, in the institutional book-build auction process, institutional investors were prepared to pay an effective $1 for the rights.You could say that was a little disappointing because the theoretical value of the rights price was $1.03 – institutions paid $6 for the shares issued at $5, so the additional price paid reflected the value they put on the rights....

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