Re: [IPVO] [Multiple Exchanges] Neo & Bee - The Bitcoin Bank (Cyprus) - LMB Holdings
I got a feeling that this will turn out into a mess similar to the Labcoin IPO.
People were putting bids 30% higher than the IPO price just to make sure they get in. And that was happening before 10% IPO price bids were filled.
People were putting bids 30% higher than the IPO price just to make sure they get in. And that was happening before 10% IPO price bids were filled.
The fact people do that doesn't ensure a Labcoin-esque fiasco. That mess is a result of Labcoin's continued incompetence, something we haven't seen a shred of from N&B.
Not sure why people refer to the Labcoin IPO as a fiasco. Yes, they underestimated demand, but when this became apparent they placed the shares as fairly as possible (at the IPO price!). Everyone who placed a bid got shares (according to the amount of BTC they bid). I got fewer shares than I wanted but I still think it was fair given the circumstances.This is worse IMO: it's an auction with a deadline of the IPO date and a minimum starting bid of .003. It should at least be advertised as such.
What if there is a rush of very late, very large bids on BTC-TC? Does this mean e.g. Havelock could potentially miss out on shares altogether? A bit of a pain for potential investors to have to monitor all three exchanges looking for something close to the advertised IPO price.
This looks messy.