That's not actually the case. The IPO only placed 20% of the Company for A$125M which at A$2 per share equated to a market cap of A$625M.
At ~A$0.50 per share the market cap is still ~A$150M; well above their residual cash backing of ~A$70M.
That's not actually the case. The IPO only placed 20% of the...
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