Is this the ultimate, mad, penny dreadful punt?
A company called All IPO on Friday afternoon revealed a bid approach from an unnamed party. The stock jumped 400 per cent in response… to 2.5p.
All IPO is part of the ADVFN retail stock punters’ group. In an earlier guise, as something called Akaei, the company floated on AIM just as the dot.comedy bubble burst at an adjusted (and heroic) price of £10.00 a share. Within a year the price had fallen 90 per cent, taking a further five years to fall 99 per cent. It joined the 99.9 per cent club last December.
Along the way, the All IPO business was injected into this shell at 25p a share in the autumn of 2004.
As the name suggests, the company had hopes of opening up capital raisings that are usually restricted to institutions and professional investors to the great unwashed public.
At it’s website you can click through the current “offers”. Unfortunately, the only investment opportunity at the moment is this:
Before Friday’s price action, All IPO’s market cap was £150,000.
Seriously.
Why is this junk allowed to continue bunging up London’s equity market?