Member Info for Blubay

or look at it another way, great entry point for a short to medium term investment at today's prices? Huge growth potential in a highly profitable company, with financed expansion plans, and no debt? Not necessarily a moment to be 'out'.

First day, good volume but almost all will be first time buys off the listing price, which went up 15%, and some day profit trading. The main thing is that the offer was fully subscribed and we ‘arrived’ into a whole new market of buyers, most of who know nothing about the company. It was good to top trending on Robinhood and Stocktwits etc as well, loads of people seeing Argo for the first time, and seeing their stake rise which will bring in more. Assuming BTC takes a rally today there’ll be interest. Momentum is more important than price in a new market. Frustrating for long time holders but trending as an early growth company on NASDAQ is where we need to be for the next stage of development towards large cap.

This is nonsense. $18.40 was never quoted by ARB as a pricing. The prospectus/F-1 always had blanks in for the price until it was fixed. It even said explicitly that the example trading day was not the actual pricing.

The IPO was never set at $18.40, or changed in price, that’s incorrect.

No ‘new’ information, but they can release information that is in the SEC documents, which includes plans for new machines, Terrapool, Pluto and Texas. To be honest other IPO miners did announce big new developments within their quiet period so I’m not sure it’s really policed. Probably not this week though.

What are your criteria for success or failure here? What were the main company reasons for the dual listing and IPO? Will that be achieved? Should PW be more concerned with the conditions for future company growth or with your weekly ISA balance?

An IPO is a book making process. There is a prospectus setting out the value, risk and plans of the company. This includes an illustration of share trading on one day in September ($18.40 is just an example not a valuation). The underwriters/brokers then canvass interest from buyers and build an order book, based on what the market is prepared to pay for deposited share receipts. The pricing of the IPO is a result of that process. When those shares are re-sold onto the public market (if not held longer term) they will be offered at a higher price as the initial buyers will be looking to make a profit (assuming there are more buyers and no shares left over).

I think the estimate was 85% (7/8) chance of commercial production on the last update I think, so 1/8 chance against

I would not have any great concerns about seeing your £2 soon enough, plenty of company news coming as a result of the capital raised and BTC should rise again after Friday's option expiry

that's up the MMs

this looks to be right https://www.tradingview.com/symbols/LSE-ADV/

I think it's currently 1.03bn shares and £33.14m cap

There are never guarantees in investing but ARB's fundamentals, and pricing versus growth potential are very substantial. Obviously that's what investors look for and why we're all here.

No, RIOT is an American listed company so its just individual shares on NASDAQ. ARB is a foreign company selling receipts for its depositary shares in blocks. You'd have to compare RIOT's 95m shares with 1/10 of ARB's 461m shares to compare list price/cap. That's roughly half the number of shares, so roughly if both NASDAQ prices were the same then ARB's market cap would be half of RIOT's etc. Currently RIOT are at $3.15bn and ARB are maybe a quarter of that. Huge growth potential here.

massive volume in early trading

I see all the shorters are out this morning :)

"PW could have had a much bigger sell off price and made millions more the shares at 134 would have sold just as quick"

with respect, clearly they wouldn't. You're misunderstanding how this works. If there were buyers for all the shares at a higher price they would have orders at that price. The IPO price is determined by what potential buyers/brokers wanted to pay. We have to wait and see what the wider market thinks their trading value is.

I'd be interested to know who here is planning to sell? :)

being undersubscribed is a worse fate than suboptimal pricing

"The Company has raised aggregate gross proceeds of $112,500,000, before deducting underwriting discounts and commissions."

they've sold all the ADS ($112,500,000 / $15 = 7.5m)

"Argo Blockchain has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 ADSs at the public offering price, less underwriting discounts and commissions."

There may be a few more to come, which the brokers can still buy at $15 if they think they can make a profit from them.

i.e. none of the buyers are going to be selling their new shares at $15 on NASDAQ. If other shareholders choose to sell their existing shares at the IPO book price they are giving away free money, buy them :)