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Hi draft - I know that because I work in the markets and especially around the aim listed stocks - I had dinner last Thursday for example with the owner of an agency house and they received 90% allocation and one trader is a seller at 6.5p or higher.
I also know of a further firm that will be selling into any premiums.
This is a common practise of "IPO flipping" and is valuable as much as it can be detrimental.
It is detrimental if their is little buying on day one as these guys will sell into any premium as they purely work on turning around their cash to get to the next IPO.
It is a valuable service if the stock is wanted and the market makers have some block buyers as the sellers deliver liquidity to service the buying.
How do you know that - seems an odd and precise statement to make that they are sellers 6.5p and above, im expecting some sticky holders here and 10p minimum
It is getting close to the launch of trading.......... Great news
Here's to a strong opening although I have met with a couple of firms that took stock in the placing and they are sellers at 6.5p and above.......
So, any premium will come under a bit of pressure.
Good read from James who owns 20% of BIDS
http://www.bqlive.co.uk/national/2018/04/26/news/meet-the-md-james-draper-of-bidstack-31940/
love the new Ticker BIDS
The new ticker will be BIDS
http://www.kingroupplc.com/archive/announcements/Proposed%20Acquisition%20-%20RNS%20-%2031-08-18.pdf
back this week
will be looking at us now as it’s rught up thier street.
ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")
COMPANY NAME:
Bidstack Group Plc
(Formerly Kin Group Plc - to be re-named following the proposed Reverse Takeover ("RTO"))
COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :
Registered Office:
201 Temple Chambers
3-7 Temple Avenue
London EC4Y 0DT
Principal Trading Address (from Admission):
Plexal
Stratford
London
E15 2GQ
COUNTRY OF INCORPORATION:
England & Wales
COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:
www.kingroupplc.com (prior to Admission)
www.bidstack.com (post Admission)
COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:
Kin Group Plc (which is an AIM Rule 15 Cash Shell) proposes to acquire Bidstack Ltd by way of a RTO under Rule 14. Kin Group Plc will change its name to Bidstack Group Plc at a General Meeting prior to Admission if the acquisition is approved by Kin Group Plc shareholders.
Bidstack is a UK based software company that has developed technology to place programmatic advertising campaigns directly into video games. It was founded by James Draper (CEO) and Francesco Petruzzelli (CTO) in 2015.
Bidstack's customers are games publishers and developers (supply side), for example Sports Interactive (part of Sega Europe) with whom it has exclusive access to Football Manager 2018 and advertising agencies, brands (such as Dominos and Vodafone) and programmatic advertising platforms (demand side). Bidstack secures exclusive access to the native in-game advertising space within video games from their developers or publishers. Bidstack sells that advertising space either direct to specific brands or programmatic advertising platforms.
DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):
Consideration, Adviser, Placing and Vendor Placing Shares are being issued at £0.06 per share. Ordinary Shares have a nominal value of £0.005 each.
No Ordinary Shares are held in Treasury.
There are no restrictions on transferability of the Ordinary Shares.
CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:
Placing of new Ordinary Shares to raise £3.5million
Vendor Placing of Ordinary Shares to raise £0.77million
Total fundraising of £4.27 million
Market Capitalisation on Admission - at the placing price of 6p per share - £11.93 million
PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT
New name is bidstack(cheerio and good riddance to KIN).
Not aware of new ticker though.
Anyone spotted whether this will be done under KIN or if there will be a new epic code?
I guess you never know and I would be more than pleased to see the price run up.
I am aware that funds were raised to allow the bigger shareholders to sell shares so that lessens the weight of sellers on day one.
A lot now depends on the PR. How well have Bidstack/KIN sold the story to the institutions that can generate sizeable buy orders.
In the end the value of the shares will be down to the company driving the adtech hard and that means signing more games and delivering quickly.
you never know, this is disruptive adtech. AIM loves these types of companies- and KIN as fitbug used to have some huge spikes. wee all seen 300% in a day on aim before, I believe this could be one of those we shall see
Steady on draft - I see day one closing around 6.875p - Small premium
fast rise to 20p plus hopefully. we all know KIN and fitbug used to have huge spikes
It is good to read the view of someone who has taken an interest in the eSports sector.
I hope that your confidence is well placed as I took a bit of a flyer with KIN on the day before its suspension.
James Draper certainly has a good pedigree,whilst I also like the profile of Eric Penot.
Fingers crossed for an 8.5 pence opening.
Welcome Bidstack holders, thanks for bringing the party to us KIN holders :-)
I am confident we will make a lot of money here.
I am into eSports investment and have another company that is more into event management underpinned by an on-line platform. That is doing well and I just like the sector. Amazing growth potential.
Secondly, there are few eSports genuine investments and only one listed business being GFinity and that is valued at above £30m on massive losses and low revenues - Institutions I know want to invest in this space being eSports and Games so that helps.
Finally, if Bidstack stay focused in the In game add space then this is a cash cow. Lots of games for them to target and the sponsorship revenues could be huge...... All about execution and delivery now and James Draper is a top guy.
My target is 24p and close to £50m in 18 months.....
That's interesting roleybirkin.
I do not think there will be many residual Kin shareholders of any size for they suffered severe dilution.
6 pence should prove a reasonable bench mark when bidstack come to the market.
Hopefully we will see a premium over that figure.
Do you have a target ?
Well done both of you! Feels like this could head north significantly from 6p despite the risks - if it works the current valuation looks way too low, be interesting to see how the market prices it while it's unproven. I'm in at around the suspension price so I'm happy. Just got to hope PIRI can find something decent now...
Interesting Mpire. Similar but I received docs last Saturday.
Bidstack shareholders are getting 7.25 new shares for each 1 held......... but bear in mind Bidstack was valued at 30p per share before the premium being paid in the reverse which was approx. 45%.
I agree with you in that some existing may be sellers but key shareholders have already had their sell orders filled at 6p from funds raised.
I am a bidstack shareholder. I was waiting for the documents in the post but as you say it's in the admission docs. Works out as just over 5x return from the crowd funded round. Interesting to see where this goes on open. Bet a few people are keen to just get out / get money back from fitbug days!?
Genuinely baffled as to the relevance of the ratio or of how many Bidstack shares there are, unless you were a Bidstack shareholder. But it's all in the admissions document. "X" as you put it is the combination of 15,397,643 A Ordinary shares and 183,604 B Investment shares in Bidstack Ltd. "Y" is the 112,964,011 in KIN Group plc.
I think the valuation is about £7million for Bidstack as a whole. The value of bidstack when it did its crowdfunding was about £1million. The bidstack shareholders will have swapped X number of bidstack shares for Y number of Kin Group shares. I was just wondering what this ratio was? Any ideas?