1) Firstly we traqde at 25x sales, that is a pretty damn good valuation in anyone's book. At a future point maybe the NASDAQ would return better but NASDAQ listing isn't on offer here and now. Also why not dual list?
2) Control may stay the same (debatable) but what happens to liquidity?
3) Why is financing improved if private. The company has raised equity and conducted direct placements to specific investors in recent times, neither was difficult. This is what equity markets bring, access to capital.
4.) Why is the path to NASDAQ listing any different from private. All that means is two expensive and distracting changes of structure rather than one.
Not being personal but the above was just self serving spin from the co which doesn't check out. Investors that bought liquid ASX traded CDI's are now forced to choose between selling out earlier than they wanted and below recent highs or to accept an illiquid private company stake with much reduced ability to exit as and when they choose.
Vote NO.
UPD Price at posting:
$1.22 Sentiment: Hold Disclosure: Held
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