In most instances brokers, promoters etc get fees of anywhere between 1-10 % to put product away, plus in some instances a $ amount per name to help with spread, so theoretically they can take a 5-10% haircut on day one and still come out break even with lots of nice free promoter options (which the retail punter never sees)
Also lots of these guys only have a limited pool of funds so if they think a stock isn't going to go well, they will cut their losses and move onto the next deal. Not great for real investors who believe the story but thats what happens and this is why I dont believe most of the stories brokers, promoters etc spruik these days
That being said - I dont know the guys behind this one but I thought it looked ok actually
IPO - Golden Mile Resources Ltd, page-136
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