'TAKE TWO' FOR GUVERA'S $588 MILLION FLOAT
17 June 2016, Written by Laura Daquino
AFTER 45 changes to its original prospectus, music streaming company Guvera is now eyeing the home stretch for listing on the ASX.
The closing date for investors has been extended to July 15 and Guvera is expected to commence trading on July 25.
Shares in Guvera will be issued at $1 each, as originally proposed.
Controversy has surrounded the Gold Coast music streaming company for weeks, the Australian startup and investor community primarily looking into Guvera's $1.3 billion valuation.
"We went back and studied the Facebook IPO and there is a real similarity to what the press is writing about Guvera and Facebook IPO," says Herft.
"Hammering its value, strategy, ad-fund model - 'the company only has $1 billion revenue but worth $100 billion' - not proven, too early to list. Mark Zuckerberg got caned as well.