The COB IPO has been delayed until the JORC is updated to 2012 level, and it has been indicated the IPO is still open for subscription. At this point in time it will close 5 days after the amended JORC is accepted by the ASX. see attached below.
Have been watching both EQU and COB and unable yet to form a firm opinion regarding company value, until after the float. However, will say that I believe the COB IPO to be priced too high @ 20 cents. After all, it is being floated out of BPL whose shares are under 4 cents atm.
Might be proven wrong but 20 cents per share...?? If it is fully subscribed then market cap will be $19mill.
The other thing is, why have an extension on applications for shares if it is already filled? Or is that an ASX rule?
In comparison, at least EQU has a market driven cap, which I think is around $14mill. To be honest, I'm thinking EQU is overvalued at that level after the recent run, but as always the market will decide. cheers
CO1 Price at posting:
5.1¢ Sentiment: None Disclosure: Not Held
