Agree with Dimaz that this IPO will do very well.
It's is the only Australian owned poppy processing company and is one of only nine companies globally to hold a licence to manufacture narcotic raw material from processing opiate raw material. It's backed by some heavyweight shareholders and have a look at the quality of the register.
The top 7 holders hold 50% of the shares.
Soul Pattinson (20%), Allan Gray (13%) Ellerston Capital (Packer - 8%), Acorn Capital (7%),
Thorney (Waislitz and Pratt families - 4%). These holders are long term investors and there will be zero selldown.
Apparently several of the large sharefolders were approched by a number of Chinese group to buy their stake but flatly refused.
Demand was huge with the book covered 3 times.
