If there were any attempts to suppress the shareprice during delays with hopes of taking a large stake in Renergen with the about US$200m needed in equity for Phase 2 I think the train has now left the station.
An IPO at a guess would mean a large number of small shareholders with no big stakes to any one party.
The CEF deal should be done soon at about AUD$6/share or AUD$7/share so at a guess given that valuation Stef would probably hope to do the IPO at AUD$5+ or US$3.50+ to minimize dilution. Given the Nasdaq IPO might be a few months that gives time for the shareprice to hopefully recover to AUD$4/share where it was before delays and any other potential price catalysts that Renergen could release in the next few weeks/months.
If there were any attempts to suppress the shareprice during...
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