I've never thought of the process like this before, but Okenia on LSE is spot on with his/her insights in my opinions:
Quote:
"I suspect the IPO idea is little more than a negotiating stance. To show that if a good trade sale price isn't offered, they can walk away and go down a different route.
The other messaging is the buyback price which is a non-subtle way of indicating their reserve / starting price.
Given the paucity of good new Tier 1 projects to replenish the asset inventories of the majors (not least due to them withdrawing from exploration in recent years), I'm sure there will be very strong interest in a low cost very long mine life T1 asset like Tshipi. A trade sale must be the odds-on favourite outcome."
Tshipi bidders narrowed down as 2nd round approaches, page-2
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Last
31.0¢ |
Change
0.020(6.90%) |
Mkt cap ! $607.6M | |||
| Open | High | Low | Value | Volume |
| 28.5¢ | 31.0¢ | 28.0¢ | $2.475M | 8.283M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 205737 | 30.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 31.5¢ | 181733 | 4 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| JMS (ASX) Chart |