You are missing the point. Whilst float was a debacle - too early and seems like it was purely designed to cash out management - the fees are not the issue. $12 pa to get people investing and learning about how markets work is chump change! The theory is that this is money that would otherwise be frittered away. More concerning is that without the US parent, how long can they sustain the losses. Need some scale quickly. Think the US with 300M odd population would be a better place to be.
IPO - Raiz Invest Limited, page-35
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