volume, page-3

estimate of 1-2.5 PHP IPO price

at lower end of 1c, =8m to BPO

upside if bookbuilds to higher price, but discount that for the fact the shares will be subject to 1 year escrow

I think this month IPO

the biotech acquisition is the one with surprise potential

have a look at their cap out there

20m seems to be the starting price

If the IPO goes well, then that would cover the entire cap plus debt

potential upside from bio asset vend in atm is valued at nil by the market