Coit
Sounds like Google was the opposite of a consolidation doesn't it?
Its necessaary becuase lots of funds and lending institutions don't allow investment in or significant lending to "penny" stocks. It might also have something to do with wanting to enter the ASX 200 .. others may be able to help with the criteria. I know for instance that NASDAQ used to have a minimum share price for listings of US$5.
But its mostly about attractind fund money ... here ... but also overseas. maybe even a AIM listing? And as the chairman rightly commented being < 10 cents with 3.2 billion shares leads to lots of trader interest, short term volatility and this is a disincentive for funds to be involved. FAR is going to need major lenders (like HDR did) to get development funding.
H
A question on share consolidation, page-2
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Last
49.0¢ |
Change
0.005(1.03%) |
Mkt cap ! $45.28M | |||
| Open | High | Low | Value | Volume |
| 48.5¢ | 49.3¢ | 48.5¢ | $45.82K | 94.37K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2773 | 49.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 50.0¢ | 45200 | 3 |
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| Last trade - 15.59pm 12/08/2024 (20 minute delay) ? |
| FAR (ASX) Chart |