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1.IPO results, 8.Was Sticky

30 Nov 2017 (AFR) – AMA Group picks up ASG wreckage after $30m blow-up

(30 November 2017, AFR, p26, by Simon Evans)

Automotive Solutions Group since listing

‘It started with high hopes by raising $30 million and listing on the ASX last December, after acquiring eight different businesses in the booming 4WD and SUV parts and accessories industry. But less than a year later, Automotive Solutions Group (ASX:4WD) has put up the white flag. The $500 million predator, AMA Group, has won out in a takeover bid pitched at just 35¢ per share. The issue price in the float was $1, and it’s been a tale of woe at ASG for much of its short life as a listed entity.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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