Management could easily place ADR @ $2.5 USD if willing to wait...

Management could easily place ADR @ $2.5 USD if willing to wait until this year. Not a great job done by our US based managements I would say so.

I don’t see Altium reduced their holding as negative !
Altium hold 2.5mil ADR with 2.5mil $2.5 warrants from 2018’s placement. As part of the risk management, they distributed 1.1mil ADR to get their money back, with an option to convert 2.5mil @ $2.5 warrants.
Don’t forget that some instos bought in big on last Friday also, when 11.2 mil IMMP were traded, and Altium sold only about 400k on the market.
The real question is... who bought in big from $2.57 to $3.85 on last Friday. We know the reason why, but don’t know by whom just yet !