If they do IPO at $4.00 I will pass. I agree that looks expensive based on what I have seen. The one caveat is that they have been a private company thus far so maybe they have more than we are accounting for. I only went over the prospectus in about a half hour so maybe I missed something.
Athabasca Potash Inc. says it has priced its initial public offering of 10 million common shares of at a price of C$4.25 per share for gross proceeds of C$43.1 million. The Saskatoon-based company said closing of the offering is set for Dec. 13.