I've never thought of the process like this before, but Okenia on LSE is spot on with his/her insights in my opinions:
Quote:
"I suspect the IPO idea is little more than a negotiating stance. To show that if a good trade sale price isn't offered, they can walk away and go down a different route.
The other messaging is the buyback price which is a non-subtle way of indicating their reserve / starting price.
Given the paucity of good new Tier 1 projects to replenish the asset inventories of the majors (not least due to them withdrawing from exploration in recent years), I'm sure there will be very strong interest in a low cost very long mine life T1 asset like Tshipi. A trade sale must be the odds-on favourite outcome."
Tshipi bidders narrowed down as 2nd round approaches, page-2
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Last
27.0¢ |
Change
-0.010(3.57%) |
Mkt cap ! $529.2M | |||
| Open | High | Low | Value | Volume |
| 28.0¢ | 28.5¢ | 26.5¢ | $2.694M | 9.883M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 69242 | 27.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 27.5¢ | 346117 | 6 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| JMS (ASX) Chart |