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nihilism you are asking questions that no one here can answer.
During the uranimum boom I saw many companies list at 20c only to open on day 1 at 60c and 80c.
Why was the float price done at 20c when the companies new that there was great demand for their shares.They could have floated off at much higher prices. Why didn't they.
WHY ? WHY ? WHY ?.
I saw Hunnu Coal list on the 12-2-2010 at 20c and went straight to $1.15 per share by 23-4-2010.
On the 12-9-2010 it was taken over for $1.80 per share. 7 months later for 9 times more than the float price I saw Guildford Coal do a float at 20c per share.Float price was 20c on the 21-7-2010. By June 2011 it was trading at $1.35 per share.
You ask - Why is First Mongolian listing. Why such a paltry amount.
Why are they given GCN roughly 20 million dollars for a wifi channel that has never been proven profitable.?
I direct that question to the ones that I have put to you.
WHY indeed.
When I was offered stock in these uranium floats at 20c I didn't ask the question WHY. I simply wrote out my cheque and bought as much as they offered me.
If I would have been asking the question WHY then perhaps I would have kept my cheque book in the top draw and not bought any.
By the way, until we see the prospectus we don't know what the float price will be.
I used a conservative example yesterday based on a 20c minimum. I didn't want anyone to suggest that I was trying to ramp the stock up.
One thing I do know for sure, and that is it won't be any lower than 20c.