They did a pre-IPO sell down to some long term investors. The shares they sold in the pre-IPO sell down are escrowed for 24 months. Read the prospectus
What they do with their money is their business. The proceeds of the pre-IPO sell down isnt company money its the founders money.
IPO sell down is very common, they still hold nearly 65% or so between the main founders. That is a massive interest.
'with the govt grants and tax concessions they are receiving they could have funded growth through their revenue.' What? They are funding growth through their revenue.....the IPO proceeds will accelerate the growth. They have self-funded the business from the time they started the company...
Ann: PlaySide and Paramount Sign License for The GodFather, page-30
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