One executive was convicted of filing false tax returns, another for obstructing justice and a third accused of selling unregistered stock.
But three tiny companies with ties to the executives have now gone public in the U.S. in what may just be the zaniest little market on Wall Street: mini-IPOs.
These companies — just seven so far — arent exactly blue chips. One went public recently on the New York Stock Exchange with a value of just $43 million, most of that from mom-and-pop investors. Thats less than 1/100th the size of Apple Inc.
And some of the securities firms bringing these companies to market arent exactly blue chip, either. A couple have checkered records themselves. Authorit…
Read the full article at: https://www.bloomberg.com/news/articles/2017-11-08/tiny-ipos-huge-losses-inside-one-of-the-wildest-u-s-markets