The reason why valuation is so low...., page-4

It's not the price of 20c that's relevant, it's the market cap. Would you sell 58m shares of your company to raise $7m when you could only have sold 30m. Or alternatively you could have raised $15m. The point is, the bank has not undervalued the listing by 500%, and the management have not agreed to give away part of their business for 1/5th of what it's worth 3 weeks later. IPO's can double, as it has, or even 150%... To reward the initial investor for taking the risk. My point is to pump the stock to be worth $1 before new news comes out is the waste of your time. And as I state, I work in London and have no knowledge of ASX IPO process.

My view that this will not go straight to $1.00 is completely irrelevant, as is yours. The questions I ask above are not irrelevant and a far better use of people's time than this discussion.