NOU took a bet with the reverse splitHello everyone,
NOU management took a bet here by reversing the stock 10:1.
- They bet to attract Portfolio managers / hedge funds and increase the demand for the stock and hence increase the share price for future financings.
- They had good experience with BMO with the bought deal done. They were probably convinced to attract new investors.
I certainly hope that management did not hear the siren voice of investment bankers telling them tales. I hope that they received firm commitment from Institutionnal investors, and also hoping that those moves wil not be detrimental for small shareholders.
ifront