Would this bode well for those that participated in the IPO?
Surely Bathurst's offer for the project of 30 mill immediately values the company at that price, so I'd suspect anyone who participated in the IPO would probably look at locking in a 20% gain straight away. You'd have to think Bathurst will be buying shares on market if the IPO'd entity is less than a 30 mill market cap.
I'd be happy if Bathurst came back and offered say 35 million, thats 10 million more than the projected funds from the IPO. We could then scrap the IPO and go with the better offer.
Interesting to see if they come back and make a higher offer over the weekend anyways. Maybe someone else will offer even higher and gazump them? :)
GLL Price at posting:
23.5¢ Sentiment: Hold Disclosure: Held
