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Opinion

Nothing to savour in Moa falling for its own hype

Paul McBeth
Tue, 23 Feb 2021

If you're looking for it, uou can probably find where Moa went wrong in its 2012 investment statement.
Paul McBeth
Tue, 23 Feb 2021
The sale of Moa for $1.9 million is a sorry end to what always looked like a tragedy in waiting.The numbers say it all.About 1,200 shareholders pumped in $16 million at $1.25 a share in the oversubscribed 2012 initial public offering, valuing the beermaker at $38 million. Most of it was snapped up by institutions, but there was a public pool.Investors have pumped in more than twice that, with Moa’s share capital at $47.3 million at the end of September, covering $28.7 million of accumulated losses over its near-decade of public life, and...

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