Hello Im Rachael Jones and you are watching the IPO Corner Show live
from Sydney. Afterpay shares will be suspended from trading on the ASX from January 19.
Block CDIs will commence trading on the ASX under the symbol ‘SQ2’ on January 20.
Block formerly known as Square has received approval from the Bank of Spain regarding
its acquisition of Afterpay. The approval marks the final step in the transaction meaning the
acquisition is fully unconditional and will be implemented without the need for further
shareholder or court approval. Afterpay’s chair, Elana Rubin said that Afterpay, its leadership
and team have shown that groundbreaking fintech innovation built in Australia can reach global
proportions. The team are incredibly excited at the prospect of beginning an extraordinary
next phase with Block and look forward to implementation on 1 February 2022.
The first new listing of 2022, GreenTech Metals, surged higher in its debut session on the ASX.
The company’s shares were up 32.5% after just over an hour of trading. The company had raised
$5 million at 20¢ a share as part of its initial public offering. GreenTech is an
exploration and development company established to discover, develop and acquire Australian
and overseas projects containing minerals and metals that are used in the battery storage and
electric vehicle sectors. The company currently owns projects focused on unexplored nickel,
copper and cobalt in the West Pilbara and Fraser Range Provinces.
My Foodie Box, a rapidly expanding food technology business in WA that prepares and delivers meal
kits, has closed its oversubscribed IPO having raised $6 million. It commenced trading on the ASX
on 7 January. It was the second IPO of 2022. My Foodie Box sources, prepares and delivers quality,
local ingredients straight to the doorsteps of its customers, aided by its technology platforms.
With a focus on provenance, the meal kits are sourced from ethically responsible
local farmers and producers and delivered in compostable, recyclable, and reusable
packaging. The meal kits are offered on a weekly subscription-based model with the price per meal
ranging between $8 to $13 plus a standard delivery charge. Customers can also add staple pantry items
as well as add-on fruit and snack boxes to their deliver i y. My Foodie Box now intends to expand
both its offerings and its markets. Friday this week is a big IPO day for the ASX. We potentially
have three new listings. Chemx Materials is set to list on the 14th January. They specialise n high
purity alumina, a specialised product used in lithium-ion batteries, LED lights, and more. Under
the ticker code CMX, they currently have a dual focus — exploring the ‘Eyre Peninsula’ halloysite,
kaolin and manganese project and developing its upstream HiPurA HPA processing tech. They are set
to raise $8 million . Next due to list on Friday is Far East Gold. They are set to raise $8-$12
million at 20 cents per share. This explorer has a growing gold resource at the ‘Wonogiri’ project
in Indonesia and Woyla, a project previously held by Barrick Gold and Newcrest. They
also have early stage projects in Australia. And lastly set to list on Friday is Resilience Mining
Mongolia under the ticker code, RM1. They raised $6 million at 20 cents per share. They
are searching for large copper and gold deposits in Mongolia. They acquired their projects from
Kincora Copper which will receive a 9.9 per cent interest in the stock on the listing. The assets
are close to Rio Tinto’s (ASX:RIO) world-class Oyu Tolgoi copper and gold mine.
To wrap it up.
Rumours are spreading that Canva could be interested in going public, but its lofty
valuation and large implied market cap may make a US capital markets presence more desirable.
Block’s listing this month will herald the start of a strong pipeline of new faces for 2022,
although the extraordinary number of IPOs in 2021 is unlikely to be repeated. Last
year was a record year for “jumbo” stocks, or those worth more than $1 billion,
with eight listings, including GQG Partners, APM Human Services, PEXA Group and Latitude Financial
Services getting across the line. To invest in an IPO, prospective investors need to be registered
with a participating broker or lead manager. Investors can also apply themselves by filling
the application form attached to the company’s prospectus. Those who have missed need to register
with a share trading platform or a broker who has the access to the ASX. However, before investing
in IPOs, investors must check the credibility and the track record of the company. The risk
appetite level varies by investors, and they need to consider factors such as analysts’ view,
brokerage ratings, industry outlook, financial performance, and the peers review before making
an investment decision. Well, that’s all for now on the IPO Corner show!
Stay tuned to Kalkine TV as we have many more shows lined up for you for sharing live
updates across the economy, markets, and sectors. This is Rachael signing off!