I was hoping for the IPO to be at a premium. Or I thought they could take bids, then accept the highest bids up to $Xm, so that the listing price is fairly strong.
But management's wording suggests a possible discount, unless that's just an ASX requirement for disclosure. So now I'm not sure if it'll be at a discount or a premium.
In case of a discount, then holding cash to average down is the main option. Since we should be well funded after this, and they shouldn't be seeking new funds from ASX any time soon.
Too bad they can't just raise from existing holders if they plan to do it at a discount, except for the potential benefits from US listing - US grants, US loans, US partners, large raises for construction.
But in any case, the price on US market should not be worse than ASX (listing at a further discount). It is already claimed that ASX undervalues this company relative to US.
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