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1.IPO results, 1.Market Observations

13 Sept 2017 (AFR) – IPO: CropLogic mashed in rough ASX debut

(13 September 2017, AFR, p19, by Simon Evans)

CropLogic – trading day one

‘Agricultural technology company CropLogic had a difficult start to life as an ASX-listed company on Tuesday but chief executive Jamie Cairns expects it will be a “reasonably temporary” blip. CropLogic uses a range of “internet of things” devices and equipment embedded in paddocks and fields to help growers of potatoes, corn, wheat, cotton and soybeans to improve crop outcomes and more accurately predict returns on investments. It has been busy in the potato industry in the…’ <snipped…>

‘CropLogic made a subdued debut on the ASX on Tuesday morning, with its opening trades at 16¢, below the issue price in its IPO of 20¢. The company issued 40 million shares in a raising handled by Hunter Capital Advisors. The stock reached a high of 17.5¢ but then fell back again to close at 15.5¢.’

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