Market's view on Fonix
Published on April 2024
- A secondary placing of existing shares has been executed, with no dilution to other shareholders.
- Despite the placing, the significant shareholdings by three major holders remain unchanged at 33%.
- The demand for shares is steady, with expectations of the share price stabilizing at 240p, supported by a recent buyback of 907,000 shares at the same price.
- The board announced a buyback of 1 million shares to utilize surplus cash.
- Investors speculate about the availability of shares for private investors at lower prices following the sale.
- Dividends have been distributed by various platforms, with some delays in payments observed.
- Fonix has continued its partnership with Comic Relief, raising significant funds through text-to-donate solutions.
- Cavendish’s update post-results highlighted Fonix’s strategic focus on expanding in European markets and the consistent performance improvement since its IPO.
- Share price fluctuations have been noted, with recent trades falling between 255p and 265p, possibly due to capital gains being taken at the end of the tax year.