I love when people start bringing in statistics of how much money is within an industry once a firm gets a small stake in it.
ABC company invested in XYZ industry.... XYZ industry is worth 3 trillion dollars per annum.....
get some stats on revenue and profits generated by eSports.com - then it will actually provide some relevance.
Truth is FFG market sensitive announcements will not move the SP until there is actual bottom line changes to their revenue or profits.
Let it be made clear that FFG has paid for the investment into eSports.com by swapping 45 million of its own shares in ICI, thus reducing their stake in that company.
There is nothing magical happening here, just a shift in investment. I love how FFG uses the word 'acquire' when investing 3.45% of a business. I'm surprised they haven't detailed how much profit eSports.com generates so the 3.45% ownership can actually be materialised for investors.
Good luck to all FFG holders and hope that you don't bust into 2c shortly
I love when people start bringing in statistics of how much...
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