Well it looks like we’re getting a bit better at picking winners with yet another IPO we liked posting over 50% gains at open this morning. Having so far hit a high of $3.25, prices are currently sitting just under $3, up from the $2 ask.
It will effectively be business as usual, with IPO funds slated to;
• provide OptiComm with access to capital markets which is expected to provide additional financial flexibility and enable OptiComm to pursue further growth opportunities;
• provide OptiComm with the benefits of an increased public profile that arises from being a listed entity;
• broaden OptiComm’s shareholder base and provide a liquid market for its Shares; and
• provide Existing Shareholders with an opportunity to partially realise their investment in OptiComm.
Existing share holders still make up almost 80% of total shares and there are various levels of escrow also in place for mangement.
This looks like a good one to tuck away in the portfolio.