Wishlist - Market Cap

How is the ability to set alerts from a chart coming along Peter?

Also I note that in a number of stocks market capitalisations are distorted when using security summary.

Take for example new listing AII- Abra Mining. BC summary says it has a market cap of $12.4m but this based on 38.3 million tradeable shares. There is in fact 66 million(from prospectus) on issue so this almost doubles the market that BC shows. So what's the use of having a market summary if it's that far wrong?

Mustard

Hi Cobra

I agree with you, IRESS and BC both have the same number on issue for AII i.e. 38,350,004 but my point is we pay very good money for supposedly reliable data but when it comes to a stock's market capitalisation then it cannot be taken seriously. To work out a company's market cap you must take into account all shares on issue i.e restricted, escrowed etc.

I think in this day and age its not too unreasonable to expect something as critical as total number of shares on issue to be correct or at least close. BC probably gets this data from another provider as do IRESS but somewhere down the line someone is not doing their job properly.

This extract from page 11 of Abra's prospectus shows the correct number but it seems the data that is provided to us shows only tradeable in this case. Does anyone from Weblink wish to comment on this ?

Mustard

Cobra

In "Details of the Offer" on page 8 it states that all the new shares will rank equally in all respects with existing shares on issue so I don't know if they are in escrow or not. Maybe I have missed any reference to escrowed shares. Anyway it seems we agree there are bucket loads more on issue than BC says. The ASX should be aware of what is on issue as it is advertised in all of their announcements. In the recent conference presentation it makes no reference to escrowed numbers ????

I have always taken the market cap listed with BC and IRESS with a grain of salt but it just goes to show how distorted the facts can be. In this case it's hardly a guide but is way out. I can think of a few other stocks that also have distorted caps and there are bound to be hundreds more. The question then begs can we demand a better service from our fees?

Imagine if Bullcharts advertised accurate numbers of shares on issue showing restricted and escrowed numbers with dates, alongside those listed as tradeable. Now that would have to be a marketing edge. What are your thoughts Bullcharts staff ? Who and where does the problem lie with and can it be fixed?

Mustard