This a fallen IPO, a category which is interesting because it suggests that the company was dressed up for the IPO and the sheen has come off, but there is likely to be a good business under the muck because that was the reason it could list in the first place... However, here not as compelling because rather than a PE-sell down it was a capital raise for new acquisition / expansions.
Getting squeezed by currency and by price rises from large supplier. I don't hold but one to look into further and given large price falls an interesting one to have on the radar. What do others think?