Imho, the private equity firm who bought ds from woolworths and packaged and on sell it via ipo should be held accountable for their actions.
Money raised in that ipo gone directly into the hip pocket of the fund. So they walked away with hundred and hundred of million of Dollars. From memory about 400million.
For BFC, it floated and the money they received via IPO was used to purchase revenue generating assets and not the the pockets of management team. Still with 34 m in the bank.
This opportunity took 3 years to form and lots of out of pocket expenses for the team which now they will be reimbursed and was informed in ipo documents.
Let be honest here, will you work for 3 years without pay? They need to be rewarded at some point in time. May be the management has missed calculated how quickly the share price has appreciated, after all roger did said buying the shares on market, so the money got to be there before this can happen.
Look at a2m, when did they list on asx? How long did they operates before they make their net profit?
