Banter and General Comments, page-9082

Thesi asked: Why didn't it go to IPO?

the answer is cos they were trying to touch everyones bottom without getting permission first ..... it failed cos it was stupidly overpriced at 20cent IPO given that the pari passu shares that had been spun out of Tawana had been at something like 1 cent ( I cannot actually remember the "price" but it was not much). Cowin has since done a consolidation so each Cowin share is now worth somewhere between 13c and 18c book.

Hope that helps.
https://hotcopper.com.au/posts/38865165/single