Webjet has announced a $250m convertible notes offering with a conversion price of $6.35, a 22.5% premium over the $5.18 reference share price and a -7% discount to the prior close.
Equal-weight retained. Target is $4.50. Industry view: In-Line.
Target price is $4.50.Current Price is $5.28. Difference: ($0.78) – (brackets indicate current price is over target). If WEB meets the Morgan Stanley target it will return approximately -17% (excluding dividends, fees and charges – negative figures indicate an expected loss).