Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
"$18.40 was never set in stone but I think you must know that."
...nor was $1.50 or a 33% discount to those poor sods holding OTCQ stock over there.
No doubt we will get served up the same in just over an hours time at £1.23.
Let's have this right and stop trying to fudge. This was a pretty simple exercise. The impression given was that ADS Shares were to list on the Nasdaq at x 10 the price of Ordinary Shares on LSE & OTC. This was not the case.
Where was the info/publicity/tweet that "the prospectus had changed"?
This is what was filed yesterday morning at 8.53am to the SEC. "Under the cover of darkness" the "Prospectus" was changed. Bear in mind that Argo's Twitter originally quoted $18.40. And people think PW is "transparent", whatever way you want to look at it, LTSH's were well and truly shafted, end of.
Filed Pursuant to Rule 424(b)(4)? ?Registration No. 333-258926? PROSPECTUS 7,500,000 American Depositary Shares
(Representing 75,000,000 ordinary shares) [MISSING IMAGE: lg_argoblockchain-4c.jpg] Argo Blockchain plc (Incorporated in England and Wales) ? This is our initial public offering in the United States. We are offering 7,500,000 American Depositary Shares, or ADSs, in the United States, referred to herein as this offering. Each ADS represents the right to receive ten ordinary shares and may be evidenced by American Depositary Receipts, or ADRs. We are offering all of the ADSs as described in this prospectus. The initial public offering price of the ADSs is $15.00 per ADS. Our ordinary shares trade on the standard listing of the London Stock Exchange Main Market (the “LSE”), under the symbol “ARB,” and on the OTCQX® Best Market (“OTCQX”), under the symbol “ARBKF.” On September 22, 2021, the last reported sale price of our ordinary shares on the LSE was £1.57 per ordinary share, or the equivalent of $2.17 per ordinary share based on the exchange rate of £1.00 to $1.38 on that date. Our ADSs have been approved for listing on the Nasdaq Global Select Market (“Nasdaq”) under the symbol “ARBK.” We are both an “emerging growth company” as that term is used in the Jumpstart Our Business Startups Act of 2012 and a “foreign private issuer” as defined under the U.S. federal securities laws and, as such, have elected to comply with certain reduced public company reporting requirements for this prospectus and future filings. See “Prospectus Summary?—?Implications of Being an Emerging Growth Company” and “— Implications of Being a Foreign Private Issuer” for additional information.
...........and "our" shares are now worth £1.14...wow what a great day eh? Yawn!
Just had another little cheeky top up, 7,291 at 1.62....well happy!!
Argo is currently going crazy bonkers over the pond...cracking news!
Nasdaq listing will make no difference whatsoever to SP. Argo Nasdaq shares will be listed as ADS (American Depositary Shares) on a 1 for 10 ratio. So for every one ADS share purchased on Nasdaq, this will be worth 10 Argo Ordinary shares (same shares as listed on London SE and OTC).
If you want to see how this currently works, take a look at Astrazeneca SP on the Nasdaq and on London SE, again Astrazeneca's shares are listed as ADS shares on a 2 for 1 ratio.
It clearly states on all trading platforms, like Hargreaves Lansdowne, that if you buy 1 Astrazeneca ADS share then this is worth 2 Ordinary Shares. The same will apply to all prospective buyers of Argo Nasdaq shares too, so it will be clear to all who are making comparisons between Argo, Riot & Mara.
Hope this helps ; )
Posted on all Robinhood Accounts under IPO: "Argo Blockchain plc (ARBK) is now on IPO Access". Details noted are an est IPO price of $18.40 and an expected date of 9/23/2021.
Trading Volume currently 800K...well on its way to surpassing 1M for today
GLA!
@600Thieves Thanks...My Q was more in relation to US retail investors comparing Argo's Nasdaq SP with RIOT & MARA's and 'it" being totally clear on any trading platforms that they use over there clearly stating that for every 1 ADS Share they were in fact getting x 10 Ordinary Argo shares
A bit more on this....
AstraZeneca are also on Nasdaq as ADS on a 2 to 1 ratio. Just logged on to my HL to make a dummy buy of these and it clearly states that "2 ADR's Represent 1 Ordinary Share"
Pukka!!!
Guys...what's your opinion/thoughts in relation to ARB's future NASDAQ SP and how this may be perceived by potential new retail investors in the US? If our UK LSE SP triples to £4.35, then those guys are looking at circa $60 per US ADS share. Obviously US Institutional Investors are savvy to the 10 to 1 ratio, but what about your layman, man on the street, Robinhood crowd?
Any thoughts anyone?
cont....
leading to an increase in profits in the long run, the company's stock price might rise.
FYI...
How Equity Financing Affects Existing Shareholders
Many investors do not like when companies issue additional shares for equity financing. Investors often feel that their existing ownership has been diluted or watered down, and in some cases, can lead to investors selling the stock altogether.
Share Dilution
When companies issue additional shares, it increases the number of common stock being traded in the stock market. For existing investors, too many shares being issued can lead to share dilution. Share dilution occurs because the additional shares reduce the value of the existing shares for investors.
For example, let's say a company has 100 shares outstanding, and an investor owns ten shares or 10% of the company's stock. If the company issues 100 additional new shares, the investor now has 5% ownership of the company's stock since the investor owns 10 shares out of 200. In other words, the investor's holdings have been diluted by the newly issued shares.
Earnings-per-Share Impact
Issuing additional shares via equity financing decreases a company's earnings-per-share (EPS). For example, let's say a company needs to raise money, so it decides to issue an additional 5,000,000 shares to be sold in the market.
If the company initially had 10,000,000 shares outstanding and recorded a profit of $2,000,000, the company would have an EPS of .20 or 20 cents per share ($2 million/ 10 million shares).
When the company issues another 5,000,000 shares, the total outstanding share count will increase to 15,000,000. The company's revenue and earnings (profit) have not changed in value. However, the company's EPS would decline to .13 or 13 cents per share ($2 million / 15 million shares).
Since EPS is a closely watched metric that company executives, investors, and analysts use to forecast a company's expected profitability, any change in EPS is noteworthy. As a result, additional equity financing can carry a negative connotation in the markets since it lowers EPS.
Stock Price Impact
Since EPS declines from new equity financing, companies often find their stock price decline initially. However, new equity financing is not always a bad decision by a company's executive management team. If a company is using the funds to pay down debt, which would reduce or eliminate the interest expense from the debt, it can be seen as a good sign and lead to a rising stock price.
Of course, companies that are struggling to remain financially solvent might issue additional shares as a last ditch effort to remain in business. In this situation, the stock price seldom rises, particularly if the company has been in an ongoing downward spiral.
However, companies that are early-stage growth companies with an optimistic investor base might see an increase in the company's share price from additional equity financing. If investors believe that the funds from the new issuance will be used to invest in the company's future, leading to an in
Wouldn't this action have something to do with El Salvadorians cashing in their free $30 in BTC? And the the dip being purchased for the rise?
Thanks "Barrett", "Bluebay", "Rorydinho" & "Hexham" for your replies, much appreciated.
Has he or Argo said anything yet?
Could someone, please kindly in layman terms summarise what's happened this morning, much appreciated, thank you
Fair play to our brothers over the pond, they've held this up well this afternoon \o/ \o/ \o/
$2.25 in the US and still going....rocket fuelled!
Bought another 8300 this morning, it was way too rude not to ; )