If its FA is as sound as you say then the Board failed to capitalise on this with its IPO value and as a consequence showed poor capital management. The price rise from its first day on the bourse to now has been nothing short of meteoric and that was lost capital for the company due to the underpricing the value of the business however if it was based on sound FA then the market based price rise is unsustainable and the price will draw back as a result.
Take your pick but you can't have it both ways.
Star Combo Pharma Ltd (ASX:S66) share price boost 100% in 2 days after listing on ASX., page-51
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