Swoop Stock Highlights:
On the first day of Listing Swoop Stock, swooped a massive 120% higher to a 52week high of $1.33 a share and a market cap of just over $200million, within hours of completing their backdoor listing.
Who Are the Top Holders?
On the day of listing Swoop (SWP.ASX) published their Top 20 Holder statement. Very interesting that Twiggy Forest’s investment company Tatterang has a massive 19.7% stake in the company with additional options as per the prospectus. It’s also worth pointing out that James Spenceley the Non-Executive Chairperson also has a significant 3% stake in the company.
What Business Does Swoop (SWP.ASX) Operate In?
Swoop, formally known as Cirrus Communications, was founded in 2004 and operates 220 towers across the country with 110 staff. Swoop currently has the capacity to supply 64% of the Australian population. Swoop operates one of the country’s largest fixed wireless networks with 246 towers spread across all states and has plans to build more towers and seems to have an appetite to acquire rival operators.
Current Share Price and Cap
The Swoop Share Price (SWP.ASX, SWP ASX) currently trades on the Australian Stock Exchange at a price of $0.92 a share and a market cap of 109million.
The company reported a total underlying EBITDA of 2.3million for 1H21. You can quickly see where the business gets its valuation from by extrapolating the half year numbers.
Full Analysis if interested: https://**promotion blocked**.com/swoop-stock-price-2021-ipo
Swoop Stock Highlights:On the first day of Listing Swoop Stock,...
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