Any IPO where $183.5m is being raised, but $118.5m is being used to pay out existing shareholders is a big red flag, and I would suggest on this basis alone this IPO should be avoided with a tentpole.
Additionally, the offer puts the Market Cap at $637m and EV at $536m, for a company that lost $3.4m last year and historically has not been operationally cashflow positive.
So where is the value in this one exactly? I will look to short this on IPO if I can
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Last
$5.14 |
Change
0.140(2.80%) |
Mkt cap ! $597.8M | |||
| Open | High | Low | Value | Volume |
| $4.99 | $5.15 | $4.99 | $495.8K | 97.46K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1000 | $5.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.14 | 2978 | 1 |
View Market Depth
| Last trade - 16.10pm 18/07/2025 (20 minute delay) ? |
| C79 (ASX) Chart |