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Point taken, you're right that there is a motive to get as high an Ipo price as possible. Though I invested post IPO on the basis of past and future growth so it doesn't change my investment thesis.
".... Foinders netted £71.4m esch from IPO..."
Not much good if they are in prison for fraud.
Oh forgot.... They live in Canada and IPO in London.... They'll be scot free.
Why not float in Canada or New York.... Self explanatory really.
I do appreciate all of this, I’m definitely less than comfortable. But I just can’t see how all of the investors at IPO would have missed something that fundamentally wrong, especially considering the valuation.
"The founders only make 100s of millions if they sell."
@Koolhead,
"Estimated net proceeds of the Global Offer receivable by the Selling
Shareholders(2)(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . £475.7 million"
The 5 founders (Pialis, Mahadevan, Rogers, Sutarja, Lofton Holt) sold ~17.4m shares each in the IPO (before the 31m over allotment option), netting £71.4m each. Wise Road sold just over 10m for £41m net. Was this really news to you?
So yes, the idea that the IPO price was ramped up does indeed hold water. As for losing gains on their remaining shares, how much cash have they personally put into AWE? Their remaining holdings are still worth a combined ~£670m even at tonight's all time low close. Does that really matter when you've already banked £350m?
As for Wise Road and the £40m they made on the IPO, will some of this be going back into the product partnership I wonder? It's little wonder that the shorts smell blood...
Tea Lady just been round Canary Wharf towers again...
Doughnuts ...... With no jam
Scones and cream.... With no jam
Jammy dodgers.... With no jam.
Is she trying to tell me something?!
ARMs shareprice didnt move the first 3-5 years when I remeber the chart correctly... AWE is half a year after the IPO. New Canadian 20-30 people team they purchased with an annual revenue of CAD/USD ~6mn. So lets see for further revenue increase...
Worrying about when or whether they get $12 million from the CPP is a short-term detail. What matters is the bigger long-term picture, but you need to be patient for that and, while you may get lucky with a cheaper entry price than today's you may not, and then you'd miss out on the long-term growth story.
A better comparison than Amazon or Facebook are AWE's more established competitors, like Cadence and Synopsis. Their business models are more similar and they're on p/e ratios of around 70 despite much bigger caps of around $50 billion. That's the target for AWE and I think there's a reasonable chance they'll pull it off, presuming only the current growth trajectory continues.
Shearclass - The founders only make 100s of millions if they sell. As it is, they've lost over half their gains as the share price has more than halved, so the idea that they ramped up the ipo price at the expense of other shareholders doesn't hold water.
Ha, not that clever as I’m long at 258p. I do think everything is OK, and I’m sure it’ll work out in the longer run. Given the process you need to go through to IPO in London, I’d be amazed if they managed to get a pipe dream past every investor.
I just think their IR sucks, which always creates more questions and therefore uncertainty. Until the annual report, I’m kinda turning a blind eye as it’s just guess work.
LOL. Amazon IPO’d with a valuation of $300m, it’s sales in 1997 were $32m and all came from its online bookstore. It’s business model was as simple as you could imagine, a world away from what AWE offer.
Had AWE come to market at 10x 2021 forecast revenues ($75m), they would have priced their shares at 84p rather than £4.10. Had that been the case then they wouldn’t have attracted the scrutiny they have. Of course the founders wouldn’t have made hundreds of millions if they’d done so…
By Amazon standards AWE is still a rip off.
Amichalskiuk: I thought more or less the same (but with Facebook) :)
It would be interesting to be able to see Amazon's announcements when. They were starting out. I would guess they too announced jam tomorrow as building revenue streams takes time and the building blocks have to be in place.
RossDavis
A man of intellect and common sense in this room filled with dreaming sheep.
Nice one mate.
They're written as substantial updates but without any substance. It makes it seem unbelievable.
In some ways it'd almost be better to stay quiet until they can actually announce they've signed a contract that is accruing revenue now. Not 'we've done this really cool thing that will generate some income at some point in the future but which we can't define now'.
I guess I go with the audited FY21 figures - if the shorters dont face a short squeeze or kind of unwelcomed scenario I also see a lower price level first given the amount of shares they still have to dump...
I'd like to see proof of booked orders becoming real orders, then proof of payment.
They won't show proof of payment until next accounts published...
Which will be when this whole sham will be exposed.
I'm still short at 257p and exiting at or below 120p
What would you expect from PR in such case? A list of all account payments with all the business partners? Seriously: you see fraud I definitely wanna dig into your arguments; better realize my position then.
Agree with this. Their IR is horrendous - every time they release something designed to be positive, the market reacts negatively to it.
More questions than answers from latest RNS.
Shambolic PR.
The Tea Lady still sees no jam.
I hope Barcap sacked his lady
We made Linzer Augen this weekend with peach and berry jam: https://de.wikipedia.org/wiki/Linzer_Auge
I hope that no "under water" shareholder of AWE has to skip the cookies this holiday season!
Bar
Sack the tea lady mug lol
The Tea Lady has just done her rounds and says no jam tomorrow on this one.
Take care
I'm only trying to save you all!
Barcap