BEX - Bike Exchange

[Dona Ferentes]

BikeExchange Limited - looking to IPO soon: February 2021

Listing date	9 February 2021 #
Contact details	https://www.bikeexchange.com.au/ Ph: +612 8072 1400
Principal Activities	Operating an online marketplace that operates globally in eight countries across four geographical areas. The marketplace provides an efficient, technology‑driven platform to connect consumers with retailers of bicycle products and accessories through a convenient, transparent and efficient platform.
GICS industry group	TBA
Issue Price	$0.26
Issue Type	Ordinary Fully Paid Shares
Security code	BEX
Capital to be Raised	$20,000,000
Expected offer close date	25 January 2021
Underwriter	Morgans Corporate Limited (Underwriter & Lead Manager)

I notice Mirrabooka has taken a position pre-IPO

New Companies Added to the Investment Portfolio

 

[mcgrath111]

Interesting, I check the site out every now and then, not sure what competitive advantage they really offer though.

 

[galumay]

Hard to see why they would list to be honest.

 

[kenny]

Hard to see why they would list to be honest.

To provide an exit and liquidity for earlier investors such as Bombora perhaps? Bombora Investment Group managed the SPAC vehicle that allowed RPro Holdings Limited to do a script based acquisition of Bike Exchange. Bombora are expected to retain a stake on IPO.

 

[galumay]

To provide an exit and liquidity for earlier investors such as Bombora perhaps? Bombora Investment Group managed the SPAC vehicle that allowed RPro Holdings Limited to do a script based acquisition of Bike Exchange. Bombora are expected to retain a stake on IPO.

Quite likely, retail investors are the 'greater fool' suckers in these PE exercises in transfers of wealth.

 

[kenny]

Quite likely, retail investors are the 'greater fool' suckers in these PE exercises in transfers of wealth.

Agree that most IPO's are for the purposes of generating exits for early investors rather than supporting strategic growth plans for the business.

For retail investors, there remains limited opportunities and access to early stage deal flow even if the risk profiles can be lower than some listed companies.

 

[Dona Ferentes]

someone let the air out of the tyres late in the day

26c IPO; 5 min chart on Day One

 

[galumay]

What a surprise!

 

[Dona Ferentes]

. Now 3c after reinstatement.... BEX probably looking for a new Spokesman

Notice of CEO resignation and management changes

 

[Garpal Gumnut]

The topic of bicycles always gives me a headache and mentioning BEX will not improve it.

The chain of events leading to the poor continuation of cycling as a means of transport is linked to the abandonment of the casual cyclist, durry in mouth, slowly meandering through our towns and cities.

We are now saddled with an unsustainable race from ICE to EV vehicles because of the needs of very fast, lycra clad persons of all sexes having to wear helmets for protection and also for their heads.

Speed kills, not cycling.

The bar has been further raised by Emergency Doctors who know only about emergencies and ignore the health benefits of more slow riders taking to our roads.

Abandon these silly laws about bicycle helmets.

gg

 

[Dona Ferentes]

What is free wheeling in business?

Freewheeling opportunism is a concept that suggests a company does not need formal business planning instead it should remain open to opportunities as they arise and led by market conditions and events therefore adapting to changes required to take advantage of the environment to create competitive advantage.

- doesn't look like a business model suiting BEX

 

[Dona Ferentes]

it's going to be a hard slog to get back up there. ....Since listing, just under a year ago.

"It's a long way back to the top
If you don't pedal and just roll"

 

[Dona Ferentes]

looking for a new Spokesman

Notice of CEO resignation and management changes

And a reshuffle in the saddle; emerging from the peleton and helping the SP rise to, wait for it, 1c.

The Board of Directors appoint current Non-Executive Director, Mr Dominic O’Hanlon as Chair of the Board. Mr Gregg Taylor has decided to step down as Chairman into the role of Non-Executive Director.

Mr Gregg Taylor stated “BikeExchange has undertaken a significant transformation over the last 12 months with the successful recapitalisation of the business and restructure of the business operations. This was in response to a shift in both the operating environment and capital markets in which BikeExchange operates. The focus now moves to executing the refined business plan on the path to profitability and unlocking the significant strategic value in the global BikeExchange platform. Dominic O’Hanlon is arguably one of the best credentialed operators in the Australian market to Chair BikeExchange to the next exciting stage of its growth....”

..."arguably" ... not going to argue with that

 

[Belli]

A cup of tea, a BEX and a good lie down. Much like the share price.

 

[System]

On June 3rd, 2024, BikeExchange Limited (BEX) was removed from the ASX's Official List, under Listing Rule 17.11 at the request of BEX, after security holders resolved to remove BEX from the Official List.

 

[Skate]

Bike Exchange Delists
Failing to Gain Traction after going public 3 years ago with a $76 million IPO on the ASX, online bicycle marketplace Bike Exchange (ASX: BEX) has now been delisted from the ASX, acknowledging its struggles to gain meaningful traction with retail investors as a public company. But despite its long history, the company has thus far failed to translate its business model into sustainable profitability since listing.

Skate.