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.
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