Hi VS,
Perhaps it is to do with the shares being in escrow for 20 months from date of Completion of Offer of the IPO
The Offer is looking to raise A$131.4 million, comprising A$20 million of primary capital through the issue of 4.5 million new Shares at A$4.41 per Share, with the remaining A$111.4 million allowing Existing Shareholders an opportunity to realise part of their long-term pre-listing investment in CleanSpace. Upon completion of the Offer, new Shareholders are expected to hold approximately 36% of CleanSpace shares and Existing Shareholders, including Management, will retain approximately 64% of CleanSpace shares. Approximately 90% of shares held by Existing Shareholders1 will be escrowed voluntarily with a staged release, up to 23 months following the completion of the Offer.
V
Hi VS,Perhaps it is to do with the shares being in escrow for 20...
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