I was wrong. Minimum subscription for public offer is 2K.
I have an interest, but I believe that we can wait for ASX listing and buy cheaper than $0.2 due to reasons below:
page 8 of prospectus
Key Offer Details
Key Offer Details Pro forma capital structure1 Shares Note:
1. Please refer to Section 1.5 for further details relating to the proposed capital structure of the Company. 2. See Sections 1.1(b), 6.1 and 6.4 for further information.
Of these Shares, 10,000,000 are expected to be escrowed by ASX for a period of 24 months following commencement of trading, and 5,000,000 are expected to be escrowed by ASX for a 12 month period. Existing Shares on issue 55,000,000 Shares offered under the Public Offer for $0.20 each, raising $5,000,000 (before costs) 25,000,000 Shares issued under the Conversion Offer2 20,000,000 Total Shares on issue on completion of the Offers 100,000,000 Indicative free float on listing ~35%
So, just 35% of existing 10 cents shares will escrowed , and another 40% of will available for sale on a day 1.
