BTI Australia deal exclusively with Insto's and have been buying on behalf of Citycorp. Since ACU relisted Citcorp have added nearly 4M shares and now are our biggest holder. Interestingly, broker data states they bought 2M shares this month (up until last Friday). Given the decent volume days on Monday and Tuesday, I am thinking they will be holding over 5% of the register. Expecting a sub holder notice out to confirm this.
Insto's buying before the tech is commercially proven speaks volumes for this potentially game changing technology. Also worth mentioning again, ACU is the only investment vehicle for exposure to the US mobile micro donations market and have exclusivity through its agreement with the Mobile Giving Foundation.
Will be interesting to see whether confirmation of our first signed charity attracts additional insto buying given the tech will be considerably de-risked imo. The register is tightening up, providing deals are announced it won't take much from here imo for the free float to be smashed.
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