BPG Black Pearl Group

[blackcap]

The calibre of shareholders seems decent:

Teamwork Group holds the second largest tranche of 10.2 per cent while Logistics millionaire Sir Owen Glenn is the fifth largest shareholder with 7.5 per cent.
VTPE Investments of Scottsdale Arizona is the company's largest shareholder with 12.9 per cent. Blackpearl chair Tim Crown, a co-founder of Arizona-based and Nasdaq listed Insight Enterprises

Though the financials look like a mess, they need to do a presentation deck to explain why they are worth $43 million Mcap, cause as it stands the financials do not represent such a high value.

Correct. I know the promoter of this IPO (based in Wellington) and so had a look at the financials. Unless that paltry revenue of a mill or so grows dramatically, then the MCap is totally not justified. At these prices, it looks like a great short to me. But the shareholders including Sir Owen Glenn, do look quite formidable.

[silverblizzard888]

Correct. I know the promoter of this IPO (based in Wellington) and so had a look at the financials. Unless that paltry revenue of a mill or so grows dramatically, then the MCap is totally not justified. At these prices, it looks like a great short to me. But the shareholders including Sir Owen Glenn, do look quite formidable.

Share price just dipped below a dollar, would have been a great short indeed.

[winner69]

They probably sat around the table and decided 25 cents was a good and fair price and then agreed the NZX is a funny place so they said let's put a 1 in front of it so 125 was the 'list' price

some have been able to hock off a few at inflated prices .... and hoping they'll get to dump a few more to the bargain hunters

[blackcap]

They probably sat around the table and decided 25 cents was a good and fair price and then agreed the NZX is a funny place so they said let's put a 1 in front of it so 125 was the 'list' price

some have been able to hock off a few at inflated prices .... and hoping they'll get to dump a few more to the bargain hunters

Yeah you are probably not far off the mark. With a compliance listing like BPG, the price is irrelevant as no new capital was sought. So any price could have been used and it would make not a jot of difference. Looks like that 25 cents might be a reality sometime in the near future.

[blackcap]

Yeah you are probably not far off the mark. With a compliance listing like BPG, the price is irrelevant as no new capital was sought. So any price could have been used and it would make not a jot of difference. Looks like that 25 cents might be a reality sometime in the near future.

2 days later and we are nearly there. The NZX really needs to get with the play and avoid situations like this. How anyone could have sanctioned a nominal $1.25 on those books is beyond me.