Ascension Capital deal looks good, dilution is eye-watering

A reverse listing will give Ace a foot in the door of artificial intelligence. (Image: Getty)

Wed, 13 Mar 2024

Ascension Capital’s bid to tap into the artificial intelligence hype will improve its position, but independent shareholders will be “significantly diluted”, according to a report from Armillary. If the deal goes through, Ascension Capital (Ace) will rebrand as Being AI and be the first artificial intelligence (AI) stock on the New Zealand stock exchange (NZX). It aims to requote on the bourse on April 2 under the ticker BAI. “Operating in a large and rapidly growing sector, with a flexible business...

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