I can't see them being able to have a raising with URB until they get some runs on the board. The IPO subscribers would go bezerk if they issue shares at say 95c when the float was just over a year ago at $1.10. While BKI has been far from spectacular they have basically performed in line with the index so they do have some kind of track record over time. And how does scale really help BKI apart from generating more management fees? It is not like they take controlling interests in companies or achieve "economies of scale" like an industrial stock.
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