Any IPO where $183.5m is being raised, but $118.5m is being used to pay out existing shareholders is a big red flag, and I would suggest on this basis alone this IPO should be avoided with a tentpole.
Additionally, the offer puts the Market Cap at $637m and EV at $536m, for a company that lost $3.4m last year and historically has not been operationally cashflow positive.
So where is the value in this one exactly? I will look to short this on IPO if I can
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Last
$5.24 |
Change
0.100(1.95%) |
Mkt cap ! $610.0M | |||
| Open | High | Low | Value | Volume |
| $5.12 | $5.30 | $5.06 | $694.1K | 133.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 460 | $5.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.25 | 2129 | 7 |
View Market Depth
| Last trade - 13.47pm 21/07/2025 (20 minute delay) ? |
| C79 (ASX) Chart |