Ann: Market Update and Revenue and Earnings Guidance, page-21

It has been quite illiquid, when listed late last year, they had to get two supplementary prospectuses done.
There was obvious listing issues back then so you had a lot of shareholders with angst which sold out when it finally listed.
I heard one of their major shareholders ran in to financial problems and consequently had to sell stock also.
As explained in recent Anns, the delayed listing & funds had a huge knock on effect with that 1/4

Looking at it now and moving forward, you would imagine it is considerably undervalued currently on peer analysis.