I received a notification of the Demetalica shares with a letter explaining that they are not yet issued. The will go to an IPO and you will already hold shares in the company(DRM).
Typicaly, IPOs for these sorts of companies seem to list at 20 cents (I am sure many don't, but I have seen some that do), so I am expecting something like that. If the board are wise, they will be busy trying to get ducks in a row to put exciting things in the prospectus so there is a bounce on open.
As you get a 20/th DRM allocation of the shares held in MEP, I imagine most of us will find the resulting holding insignificant compared the the normal size of a holding in your portfolio, but it is essentialy free money. I don't know, but it may be the case that existiing shareholders in DMR will be offered preferential terms in the IPO or guaranteed allocation. We will find out mid March.
Ann: Notice of Change of Interests of Substantial Holder for MEP, page-65
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Last
0.6¢ |
Change
-0.001(7.69%) |
Mkt cap ! $20.57M | |||
| Open | High | Low | Value | Volume |
| 0.6¢ | 0.7¢ | 0.6¢ | $26.59K | 4.398M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 8106342 | 0.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.7¢ | 8773977 | 21 |
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| Last trade - 15.58pm 08/11/2024 (20 minute delay) ? |
| ADN (ASX) Chart |