Comparative review

Ten, after claiming it didn’t need any more capital just a couple of months ago, lost what few supporters it had left last week, announcing a highly dilutive 4 for 5 capital raising at a massive 39% discount to its last traded price. Still, after the capital raising Ten will have no net debt, and with the share price down 80% since Ten: Switching off from 24 Nov 10 (Better value elsewhere – $1.60) is this an opportunity? In short, no. Whilst Ten’s financing is now more secure, of more importance is the longevity of free to air television. Consumers are...

Ten, after claiming it didn’t need any more capital just a couple of months ago, lost what few supporters it had left last week, announcing a highly dilutive 4 for 5 capital raising at a massive 39% discount to its last traded price.

Still, after the capital raising Ten will have no net debt, and with the share price down 80% since Ten: Switching off from 24 Nov 10 (Better value elsewhere – $1.60) is this an opportunity?

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