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Ascent Resources £3m fund raise shows PrimaryBid has come of age - why aren't you signed up?

By Tom Winnifrith | Saturday 11 February 2017

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

You know that I am a massive supporter of Primary Bid as it gives ordinary punters the chance to take part on placings hitherto reserved either for fund managers or for bucket shops. The platform has now really come of age with news of a £3 million fund raise for Ascent Resources (AST), a stock I quite like. If you are not signed up you are MAD so do so here.

Ascent has raised the cash at 1.85p with one investor. But Joe punter can get involved at the same price taking up to 100% of the issue if the demand is there via Primary Bid. 1.85p is a 17% discount to the pre-offer price.

In days gone by this was reserved just for proper fund managers or, if the proposition was weak, for bucket shops who would have demanded an even bigger discount. Primary Bid democratises AIM. And that a company such as Ascent which has a credible management (the CEO is from Ulster so is clearly a good man) and decent assets is using the platform is a real vindication of it.

Going forward more and more companies will use Primary Bid and that has to be a great thing.

I must declare an interest. If anyone signs up to Primary Bid HERE if they take part in any placing, FIML gets a small cut. But that will support more high quality investigative journalism so that is not such a bad thing is it?

So if you want a bit of the Ascent placing sign up HERE. And if you don't ,you will want another of its offers at some stage so sign up anyway HERE.

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