Ten arbitrage opportunity

Ten is raising capital at a whopping 41% discount to the current market price, presenting shareholders with a chance to profit. Jason Prowd explains how.

In stark contrast to MasterChef’s ratings, Ten’s share price performance has been abysmal. In order to reduce debt, the company is raising $230m in a 4-for-5 non-renounceable entitlement offer pitched at $0.20 per share, around 40% below the pre-raising share price and now 41% below the current market price. If you’re eligible to participate in the capital raising and don’t wish to increase the number of shares that you already own, you can still lock in an arbitrage profit by selling the same number of shares on market today that you can repurchase at $0.20 through the capital raising.

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