What’s cooking in the IPO kitchen?
AIM
Opera Investments –Reverse Takeover of Kibo Mining’s subsidiary Kibo Gold. Raising £1.5m. Expected mkt Cap £6.5m. 23 May.
Eve Sleep— Schedule 1 from the e-commerce focused, direct to consumer European sleep brand. Offer details TBC. Expected Mid May
Velocity Composites—Schedule 1. Manufactures advanced carbon fibre and ancillary material kits (predominantly carbon fibre) for use in the production of aircraft. Mid May admission expected. Offer details TBC.
Verditek— Schedule 1 update. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Issue price 10p. Admission in May.
Main Market Premium Listing
Alfa Financial Software –Intention to float. Mission-critical software platform purpose-built for asset finance enterprises. Vendor sale of 25% plus. FYDec16 rev £73.3m (CAGR of 24% from 2012). Adjusted EBIT £32.8m.
Kuwait Energy— $150m raise plus vendor offer. Admission due June. 2p reserves 810.0 mmboe
Main Market Standard Listing
ADES International— Provider of offshore and onshore oil and gas drilling and production services in the Middle East and Africa, seeking raise up to $170m plus vendor sale under a Standard Listing of the Main Market. Admission due May 2017.
Global Ports Holding—Intention to float on Standard List of the Main Market. International cruise ports operator. Seeking $200m+ raise including $75m primary offer. Expected price range 735p to 875p. Mkt cap up to £539m.
Main Market Specialist Funds
Tufton Oceanic Assets– Offer extended to 9 May on specialist funds segment of Main Market to enable investors to complete further due diligence.
PRS REIT—Private rental sector REIT raising up to £250m. Admission due 31 May
Breakfast buffet
Toople* (LON:TOOP) 3.38p £3.38m
H1Mar17 results. Revenue +63% to £654,721 and 18% up vs H2 2016. 49% improvement in LBT of £603,763 on H2 2016. Cash position at 31 March 2017 of £191,584. 81% increase in orders in March and April compared to the previous two months following the launch of Toople digital direct marketing activity at the end of February 28% of orders in March and April have been for our hosted cloud based telephony services -this supports the strategic decision to focus on these higher-margin products. Approaching 800 customers (exc. wholesale) signed up to Toople products, resulting in over 1200 revenue generating units. 36 month contracts being signed by hosted cloud based telephony customers; increasing average customer contract length and providing stronger revenue visibility.
Sareum Holdings* (LON:SAR) 0.88p £23.15m
Dr Tim Mitchell, CEO of Sareum Holdings, the specialist cancer drug discovery and development business, will be giving two presentations at BioTrinity 2017 currently being held at the Novotel London West, Hammersmith International Centre, London until 10th May. Dr Mitchell will be showcasing the Company and its lead programmes in the "Early Stage Therapeutics 1" session today at 13.50pm and has been invited by the organisers to present to a panel of investors tomorrow (10th May) at the "Perfect Pitch" session being held at 15:00. BioTrinity is one of Europe's leading biopartnering and investment conferences, and the largest of its type in the UK. The event is attended by global life science investors, big pharma executives and emerging R&D companies.
Newbury Racecourse (AQSE:NYR) 575p £19.3m
FYDec16 results from the racing, entertainment and events business. Trading business turnover up 4% to £16.91m. Trading profits before exceptionals £0.74m, an improvement of 8% on 2015.Exceptional profits of £19.23m, resulting from the sale of the final tranche of land to David Wilson Homes. Exceptional impairment charge of GBP3.45m in the year relating to replacement infrastructure and enabling work. In light of the positive trading performance and the improvements being made to the infrastructure and the development of the racecourse, the board remains confident in the financial outturn for 2017 and the delivery of the long term business objectives.
Goldcrest Resources (AQSE:GCRP) 0.55p £2.1m
Follow the General meeting the Company confirms a £389k placing at 0.5p and 500k shares to Non –executive Director, Gareth Northam (now resigned) in lieu of fees. Name change to ‘Vlock Energy’ in line with the Company's change of focus from gold exploration into oil and gas. Ticker change to (AQSE:TIDM) tomorrow. Being replaced by Tim Parsons, a Petroleum Engineer with 35 years global experience on and offshore from deep water operations in the Far East to onshore multi-rig operations in the Middle East, Amazon and Europe. Roles include Superintendent role, at Schlumberger and Executive at Occidental Petroleum.
AFC Energy (LON:AFC) 12.25p £47.89m
The industrial fuel cell power Company, is expanding its position into the German power market following commencement of engineering works for the deployment of an initial 1MW proprietary fuel cell system at the Covestro Industrial Park Brunsbüttel, owned by Covestro Deutschland. The engineering work, designed to review whole of system engineering, integration and project costing, is being led by AFC Energy and is framed around the installation of an initial 1MW alkaline fuel cell system at the Brunsbüttel site with hydrogen sourced from Covestro's hydrogen grid. Power generated would be sold into local power grid under power purchase agreements. Proximity to hydrogen source also offers the potential to materially expand project in due course.
Paysafe (LON:PAYS) 470.2p £2.3bn
Q1 IMS from the global payment provider. Paysafe continues to perform in line with management expectations expressed at the Group's full-year results for 2016. Paysafe reiterates its FY 2017 guidance of low double-digit organic revenue growth, and to at least maintain a 30.1% adjusted EBITDA margin in FY 2017. Adjusted cash conversion remains strong. The Group continues to de-lever even after returning £22.4m of capital to shareholders in the form of a share buyback during the first three months of the year. FYDec17E rev £892.1m and £210.5m PBT.
LiDCO (LON:LID) 7.12p £17.4m
The hemodynamic monitoring Company, announces that it has been granted a CE mark for its latest product, the LiDCOunity v2 and will showcase it in Europe at the 5th ERAS World Congress, which will be held in Lyon, France from 10-12 May 2017. Built on a striking new slim widescreen monitor platform the LiDCOunity v2 incorporates the core value proposition of combining the full suite of LiDCO technology into one offering. Bringing together LiDCO's non-invasive, minimally invasive and calibrated technologies it allows continuous hemodynamic monitoring, including monitoring of level of consciousness across the entire clinical pathway in one monitor. FYJan18E rev of £9.5m and £0.69m pre-tax loss.
Cello Group (LON:CLL) 127p £131.6m
AGM Statement from the pharmaceutical and consumer strategic marketing group. Cello Health has made a strong start to the year, particularly in the crucial US market. The overall income pipeline is good. Defined Health, which joined the Group in early Feb, has performed very well in its first couple of months. Following the recent fundraise, Cello is making encouraging progress in its acquisition led strategy for growth, to complement the good rate of organic growth of Cello Health. Cello Signal has also made a good start to the year. Overall, will be somewhat H2 weighted. Not thought to affect H1 profit delivery for the Group. Balance sheet remains very strong. The Board is confident of a successful full year for 2017. 15.7x 17E PE. 2.7% yield.
Intercede Group (LON:IGP) 53.5p £26.54m
The specialist in digital identity, credential management and secure mobility, today announces further progress in securing contract wins from its pipeline with the award of a MyID contract from a major US aerospace and defence contractor. Under this contract, Intercede's MyID platform will be used to issue and manage digital credentials for more than 100,000 entities including employees, computers and other devices. The supply chain for this project is through a long standing Intercede ecosystem partner and is expected to generate approximately US$1.0 million of revenue over the next five years. FYMar18E £13m and break even @PBT.
CentralNic (LON:CNIC) 127p £131.6m
The internet platform business which derives revenues from the global sale of domain names, announced the appointment of Sarah Ryan as Group Corporate Development Director. Sarah was formerly Director of International M&A for LexisNexis and Thomson Financial. In these roles, she led transaction due diligence and structured complex deal terms globally, including deals in the Middle East, Russia, China, India, South Africa and Europe. FYDec17E rev £174.2m and £11.4m PBT,