Bhagwan Marine IPO
Submitted by Meeuwissen on Tue, 2024-07-02 13:41
Anyone know much about the raise or participating?
A lot of debt on the sheets.
looking at raising 80 million and will list at the end of the month.
Im still on the books with them so can get $10000 grand worth at 63 cents but will get a smaller parcel because I'm not confident.
After the raising is complete will take the company at a market cap at 149 million curious how much money will flood in from mermaid marine.
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Adam Gallash
Posts: 15631
Date Joined: 29/11/05
Yep
Will be interesting to watch, I will be on the sidelines from what I've seen..
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Rob H
Posts: 5772
Date Joined: 18/01/12
interesting
While I havent looked directly into this propectus, Bagwhan I believe are/were 50% owned by a Private Equity group.
Like the Dick Smith float, Private Equity only sells anything for one reason-cos they've loaded it with debt and stripped the fat.
The ugly story of Dick Smith, from float to failure (theconversation.com)
Not at all suggesting the same as Dick Smith, but I was told along the same lines many years ago;
"if a share broker rings you offering "great shares" and you aren't Kerry Packer, you don't want them".
Give a man a mask, and he'll show you his true face...
The older you get the more you realize that no one has a f++king clue what they're doing.
Everyone's just winging it.
Wes F
Posts: 1066
Date Joined: 07/01/12
Mermaid Marine N/A
Cyan Holdings are in the process of buying out all MMA's shares and plan to put the company back as a privately owned/run company.
Just needs to be approved by ASX.
Old fishermen never die they just smell that way.
Rob H
Posts: 5772
Date Joined: 18/01/12
.
they are, I still have shares in them, at a loss though.
$2.70
Worked there 15yrs as Ch/Eng
Give a man a mask, and he'll show you his true face...
The older you get the more you realize that no one has a f++king clue what they're doing.
Everyone's just winging it.
Meeuwissen
Posts: 754
Date Joined: 29/03/13
Hey Rob H
How were they to work for?
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