This is Rachael, live from Kalkine Studio. And you’re watching ‘The IPO Corner’- a show that
is dedicated to IPO market performance and brings you hot public offerings and all-important
information about the listing companies under the spotlight.
WE’ll look at the initial public offerings slated to make their debut on the Australian Securities
Exchange this week. We will share all important details an investor would want to know before
investing in these companies. From X2M Connect to Way2Vat, the Australian share market has witnessed
over 20 public issues' listing in the month of September so far.
It seems that IPO rush is far from over. The action continues this week with five
more companies lined up to start trading on the domestic exchange.
The list includes Activeport Group, Forrestania Resources, Mitre Mining Corporation,
Touch Ventures and West Cobar Metals. First one on the list is Western Australia-based gold, lithium,
and nickel exploration company Forrestania Resources. The mineral explorer is expected to
begin trading publicly on the ASX on 30 September 2021. The company has raised AU$5 million at an
offer price of 20 cents per share in its initial public offering. CPS Capital Group acted as Lead
Manager to the offer which opened for subscription between 27 August to 10 September 2021.
Next one is investment holding company Touch Ventures, which is scheduled to start trading on
29 September. The company proposed to raise AU$100 million at an offer price of 40 cents apiece.
Australia’s largest buy now, pay later player Afterpay is the largest shareholder in the
investment firm. Afterpay has committed to invest AU$10 million under the offering, while current
shareholder Woodson Capita is also expected to participate as well. Formerly known as AP
Ventures, the company intends to create long-term value for its shareholders by investing in high
growth companies. It has already invested more than AU$75 million in five companies, including
two buy now, pay later companies – Happay in China and Postpay in the United Arab Emirates.
Next up is exploration and mining firm Mitre Mining Corporation, which is pegged
to make debut on ASX on 30 September. The homegrown mining firm raised AU$5 million
by offering 25 million shares at an issue price of 20 cents. The company holds interest in
Mitre project, located in the major mineral province of the eastern Lachlan Fold Belt
near Batemans Bay on the NSW southern coast. The area contains numerous historical mines,
such as Dargues Gold Mine, Moruya Gold Mine and Bimbimbie group of mines.
Next in the list is Australian tech company ActivePort Group. The shares of data centre
operator is set to list on the ASX on 30 September after successfully raising AU$15 million in its
IPO. The telecommunications software provider issued shares at an offer price of 20 cents. Ahead
of the IPO, the company raised AU$3.9 million in pre-IPO rounds amid an acquisition spree.
The Sydney-based company sells software to telcos, internet services firm and systems integrators. It
is riding on the wave of increasingly popular software-defined wide area network solutions,
that are moving the telco market away from traditional revenue streams and services, such as
fixed telephony, mobile and data, and towards software and cloud-based technologies.
And now, its time for a short break but stay tuned on kalkine tv as I’l be back
with more trending updates on latest IPO listings.
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Hello and welcome back. Rachael here live from Sydney, you are watching to the IPO Corner show.
We are discussing initial public offerings slated to make debut on the Australian
Securities Exchange this week. Stay with us till the end of the show as we also have a
special interview lined up with Amos Simantov from Way2VAT, which is a recently listed company.
Another miner West Cobar Metals is slated to begin trading on the ASX on 1 October with a with
a market capitalisation of AU$8.3 million. The mining and exploration company has successfully
raised AU$5.5 million at an offer price of 20 cents a share in its initial public offering.
Xcel Capital acted as lead manager to the IPO, which opened for subscription
between 16 August to 13 September 2021. The company’s projects are located in and around
the underexplored West Cobar district in New South Wales. It intends to use IPO proceeds to
fund its exploration for target commodities such as copper, gold, lead and silver.
If you are planning to invest in these companies, please check the credibility and the track
record of the company before making an investment decision. This includes analysts’ view, brokerage
ratings, industry outlook, financial performance, and the peer’s review. This week three companies
made a debut on the ASX - mineral explorer Dalaroo Metals, battery technology developer Li-S Energy
and cancer diagnostics company Pacific Edge. New Zealand-based cancer diagnostics company,
Pacific Edge officially listed of the Australian Securities Exchange on Monday. The company had
applied for dual listing as a Foreign Exempt Entity as it is already listed on the New Zealand
Stock Exchange. The listing on the ASX will help the company access a broader pool of specialist
international healthcare, institutional and retail investors. Moving on .
Exploration and mining company Dalaroo Metals ended the first day of trade 45% above
the listing price. The stock had a remarkable listing day, with shares rising as much as
95% to hit an intraday high of 39 cents, against the listing price of 20 cents.
The Western Australia-based miner started trading on the ASX after successfully raising AU$5 million
in its oversubscribed IPO. The company issued 63.62 million shares at a price of 20 cents
per share, which opened for subscription between August 24 to September 6. Dalaroo holds interest
in the Namban and Lyons River projects, located in Western Australia. The company intends to use
the IPO funds to implement its exploration and development strategy at these projects.
The capital will also be used to meet IPO expenses and general working capital
requirements. And last stock on the list. Li-S Energy, one of the leading lithium-sulphur
battery technology developers, finally listed on the Australian bourse after numerous delays.
The company’s blockbuster ASX debut had investors laughing all the way to the bank. The LIS
share price opened its trading session at AU$2, compared to the issue price of 85 cents,
delivering a listing gain of over 135%. But that’s not all, the stock surged to a high of AU$3.05
during the day, flashing a whopping return of 259% at its peak. Li-S Energy has raised
AU$34 million via an oversubscribed IPO. Both retail and institutional investors had heavily
participated in the IPO. The company had issued 40 million shares at an offer price of 85 cents,
translating to a market capitalisation of AU$544 million. On that note lets take a short
break but stay tuned as I’ll be back with Amos Simantov, of Way2VAT in the IPO Corner show.