For sure, a corporate presso like that would go a long way.
I also see 30-40% uptake, as a minimum. But think the placement could max out in the initial offering period. Keep in mind, SCU has leeway to offer the shortfall to the public (retail or institutional). Sanlam was engaged to promote this. This offer is open for three-months, but based on the success of the Singapore placement in Singapore it could be settled quickly.
In anv case, won't invest another penny until I receive detailed information about the current situation (which was apparently provided to sophs several weeks ago) and SCU strategy moving forward. What I am specifically wanting to see is:
- Confirmation the company currently has (or will shortly have) a revenue producing aquafarm/s in Singapore
- Numbers on the expected revenue-earning potential of these platforms
- Confirmation that sales / distribution agreements have been confirmed with Rong Yao / Lantene
This would give me confidence that we have the foundations of an actual business. I think it would warrant a market cap in excess of $14m or whatever it currently is
The other thing to mention, if the SP rises materially above the placement price ON VOLUME, I will consider buying. Alternatively, if it plummets below the placement price and stays there, thats a big red flag for me
(20min delay)