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AXS axs group limited

IPO - AXS Group Limited, page-41

Currently unlisted. Proposed listing date: TBA

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BushChookSlayer

424 Posts.

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22/03/19

13:42

Post #: 37853043
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Originally posted by hughInvest1: ↑

Now extended with fourth prospectus to April 19 with ASX listing for April 26.
They have so far received applications for a total of 3,679,880 Shares ($920,000) . Which is 30% of the minimum subscription amount of 12,000,000 Shares ($3,000,000) required as specified in the Prospectus.
This minimum subscription condition must be satisfied by no later than August 18, 4 months from March 18.
Capital raising from any institutional/fund managers has not yet been achieved.

We can assume all applications so far are from retail investors. Assuming the average investment per investor is $10,000, this could mean there are less than 100 retail investor applications so far.
It is highly unlikely that the shortfall in subscriptions can be made up by retail investors. So AXS Group will have to raise funds from institutional/fund managers. They have had no luck so far.

There is the option of applicants withdrawing their current applications for one month from March 18. But if investors start doing this then this will defeat the purpose of the IPO. So I will hold my application for another month at least.Give it some chance.

This could drag on for some time.
Darn!!

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Thanks.
Where did you get this info?

AXS Price at posting: 0.0¢ Sentiment: Buy Disclosure: Held
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