According to Uran, float was supposed to be today, I guess it's been delayed a day or so. I got my allocation, though my application was scaled back by 33%. According to Uran's April 27 announcement
Quote The Directors of Uran Limited advise that the Great Western Exploration Limited IPO has been heavily oversubscribed Unquote
Plus I also received Uran's in specie distribution of GTE approx 1 GTE for every 10.17 URA shares.
The oversubscription of the offer should be a good sign for the inital trading when it starts.
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I'd be interested to know when they will list, I thought it was to be on May 23rd. Maybe their waiting for a suitable "up" day, although the past 2 days would have been OK.
Here is a link to an article about the upcoming float in GTE.
Looks like only 4 million shares were for the public, all the rest went to URA shareholders, 5 million in-specie and 11 in the float. Could have a reasonable open considering the limited availabilty to the public.
Larry, I think you may be confused between the issued float price and the opening price. Float price is what people paid to receive shares in GTE and thsi is a fixed amount in the prospectus and the open price will be determined when it lists this week.
Has anyone got any ideas as to the cause of today's run, maybe an ann. in the wind? Or maybe, the market is reassessing GTE's worth and perhaps it is apparent that it should have listed in the 40's on Tuesday.
No idea as to today's rise personally, but with only a few ks in GTE I don't mind waiting to see what pans out.
Maybe one to watch!?
Great Western Exploration
Drilling commences at Doolgunna
Since Burglar's comment 3rd Dec. GTE has moved 17% on the drilling announcement of that day at Doolgunna.
No further news flow, but the sp is strong, has volume behind it and a bullish MACD. Whether this is a supported move who knows, looking into fundamentals now....about 11AM they were up 10% today.
Thought I would bump it for anyone interested. Could call it a potential breakout.
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