This company is tightly held, the top 20 shareholders hold 60%...

This company is tightly held, the top 20 shareholders hold 60% of the 190 million shares on issue.

This leaves only 76 million shares on issue and out of that only around 25% at best would be short term holders.


Therefore around 19 million shares are in the market. If the average shareholder holds 100,000 shares that means 190 shareholders are in the market.

The share price has been bouncing around 30s for sometime, this gives the market confidence. Therefore of the 190 shareholders in the market maybe 10% are reactive on any one day.

Summary
This stock is tightly held, not liquid and why the share price has remained high.