Correct ....the "IPO" was really not a real IPO was it. 700,000 PMET shares equivalent spun into some chosen hands at a massive discount as PMT CDI's and a bunch of hype.
The $1.80 ramp into the close.... Who really bought it up??
As I said on the first day of trade on the ASX for those that think the underlying assets are OK there will probably be some buying opportunities over the next few months as the stock gets converted to CDI's dumped into the ASX.
One tranche of Warrants alone is equal of over 170,000,000 CDI's then there is all the escrowed stock that's released. So there will be no shortage of stock on the TSX or CDI's here.
PMT Price at posting:
82.0¢ Sentiment: None Disclosure: Not Held
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