If the Nyrada IPO was over-subscribed, as seems likely, this will be another indication that the Noxopharm market cap of $34 million is an aberration.
Noxopharm will own about 40% of Nyrada, fully diluted. NOX ownership of Nyrada will be worth:
$13 m at the IPO price of 20 cents
$32 m at 50 cents
$64 m at one dollar
Strong demand for the IPO will be reflected in the Nyrada share price, once it lists, which will be good for NOX shareholders as well. It looks like the buy-side agrees.
Nyrada IPO
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Last
11.5¢ |
Change
0.010(9.52%) |
Mkt cap ! $33.60M | |||
| Open | High | Low | Value | Volume |
| 12.5¢ | 14.0¢ | 11.0¢ | $559.0K | 4.481M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6612 | 11.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.0¢ | 99714 | 1 |
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| NOX (ASX) Chart |