Derwent Capital, the former hedge fund turned retail broker announced that they are auctioning themselves to the highest bidder. At the moment, the highest bid id 100K GBP, far lower than the 350K over/under number for profitability, according to Paul Hawtin, Derwent’s CEO. The ‘guidance figure’ (read: anchor) is 5M GBP, and as part of the deal you take ownership of the ‘Sentiball’ trademark.
As Hawtin notes:
The beauty of an auction is that you get a true valuation of the company.
And so I will be greatly amused for the next ten days.
Disclaimer The information provided does not constitute investment advice.