new week,bad start, page-4

There is quite a bit of information about the failed IPO on the FEX website, under "supplementary prospectus". Up to 30th December only $1.647m had been received in applications.

As far as I can see, there is no underwriter. In my humble opinion, the directors would be well advised to read the market's message; "We don't like it, start again from scratch with new idea."

I think it very unlikely that the extension will generate any enthusiasm. After all, applicants are locking their money up until listing date in April. Why would you do that?

The whole FMS story has lost momentum, and the market's interest, apart from one or two notable buyers who surface occasionally, buy a few million and disappear. It desperately needs leadership, flair, new blood.