NFD has ~23,000 shareholders, 80% of whom hold <5,000 shares. Total holdings, ~35m shares, for an average parcel size of 1,900 shares.
Conversely, ~92 shareholders speak for >2/3 of the issued share capital.
The real action, therefore, is between the majors (ie: behind the scenes) and not directly on the market (ie: in front of the retail shareholders).
