Member Info for Blubay

"the Directors are hopeful that on conclusion of this process some of the assets will be distributed to Group companies."

you mean distribute the liabilities surely?

It didn’t open on 150, it was 155 on a spread of 150/160. If there had been buyers at the US price then it would have narrowed that way but there sellers so it narrowed to the lower end

Just crossed over

"That’s my opinion, this is not financial advice"

Thanks, that's helpful and agree with most of it. There may have been some moderation of spreads with accumulation to fill institutional orders in mind but lack of mass market demand in the period of uncertainty/purdah seems more significant. I don't doubt there will be continued uplift above the underlying BTC price index.

"By next week end this will be £2 for sure"

What would be your evidence/reasoning for this prediction?

Other people seem to be already paying more than 150p as we speak so I guess you've missed that particular entry point for now.

The problem with buying BTC native is that you can't hold it in your tax free ISA/SIPP wrapper so there's a tax issue when you come to sell. Leveraged BTC trades are also really risky due to the volatility of the commodity market (billions have been wiped out on leveraged short and long positions in the past month). Investing in a miner is a much safer way of leveraging company growth x BTC price movement, provided you're comfortable with the company fundamentals and performance.

@John = It's good to hear all sides and any genuine concerns that investors have, makes for a more rounded picture. I think the key point here is about the underlying commodity outlook. That has to be central for investment decision. Obviously, there's also a short term trading opportunity. What's your timescale for investment and return?

Shares of a foreign (UK) company are deposited for sale in the USA (American Depositary Shares) which are packaged in bundles for sale. But the US trades are not for the shares themselves but for a receipt against the bundle of shares (American Depositary Receipts) - i.e. in a paper world, an American buyer would not receive a share certificate but a receipt from the underwriting bank, the actual shares remain on deposit in the UK. In practice, and in online market training, it makes no real difference. In theory, the company could deposit existing shares for sale in the US so you might see shares moving from the London market to trade in the US if there was demand.

@Toad - great summary, exactly this, it's leverage play on BTC and ARB has larger growth potential relative to other listed miners over the medium term.

thanks, that makes sense. There are a few websites now showing the 23 September, probably drawing on the same data source, but it's not printed in the official IPO calendar yet.

Hi, probably best to go back over your figures, BTC price modelling, and company plans, and maybe have a look at the recent company valuation reports, such as the one by FinnCap. Also, if you're not invested in the belief that "BTC is at $60k within the next few months" then definitely don't invest in a BTC miner. Maybe try Lloyds bank or something similar instead.

Yes, the numbers are very specific and were not in the previous draft. The fact that these have been added to the (unpublished) draft of 14 September suggests that's now the state of play, which makes announcement imminent I think. Thanks for spotting.

That seems to be a new amendment to the text, interesting.

As for the pricing, anything you see in the prospectus is for illustration based on current/recent market price in London. The actual price will be different (a) for negotiated discount purchases with lock-in, (b) when the shares go public at whatever the market price is on listing day.

“ Can't screenshot”

Can you copy the web page link please?

What’s your source for the date?

The underwriters/brokers receive bids from early buyers on the basis of the published prospectus and there is negotiation/arbitration of the price. These buyers are agreeing to lock in (not sell) for six months (180 days) so they are taking a risk on future price of BTC and future company performance (delivery of plans in the prospectus). If either fails they cannot sell during the lock in. Consequently, they look for a significant discount on the market price.

I doubt it will be this week, so next week makes more sense if they can progress advance buyers in time

Do we have the machines for ETH?

I doubt the IPO is primarily targeted to PIs and it might be a deliberate attempt to pitch to institutional investors, which we have really needed more of. What do you think RIOT and MARA shares will be in that scenario? I believe Apple shares are already $149 on NASDAQ.

Read the Form, it's all explained on page 2.