and now the australian newspaper wakes up, page-4

My impression is that the way it is going, EFE will meet its target of $5m easily, and will have to start scaling back. That isn't a bad thing, since there should be excess demand at listing.

Also, for my part, I think that the loyalty options are a very attractive element. I will certainly hang onto my shares (whatever I am allocated) to get the loyalty options down track.

Quite a remarkable performance for an IPO in this market. Probably reflects the tight capital structure, and the large tonnage potential.