This wasn’t an IPO debut. It was a pep rally. Steven Marks gathers the believers for his special debut on the ASX.
to the health and profitability of a business wasn’t welcome in the doors at the ASX’s Sydney HQ in Bridge Street on Thursday morning.stood before hordes in hoodies, giving it a huge “yeeeeee-ha!”, weaving in and out of tables, splayed with sides of guac. An ASX staffer even admitted he felt like a “racecaller” explaining the bid/ask board with seconds to go. Are we back? Or is this the top?Here was the American who with a straight face claims to have “reintroduced” Mexican food to Australia.
Over the pumping beats of electronic dance music, we could practically hear bankers rubbing their hands together pondering repeats of the TDM way. One observed they were already brainstorming what other private companies could be listed with this deal structure. Only listing a small part of the business to drum up demand in tough times for capital markets while tapping into FOMO? So simple in hindsight.Although, that’s not to say the TDM debuts all go pop – and push on.
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