What’s cooking in the IPO kitchen?
Block Energy—a NEX Listed UK based oil exploration and production company whose main country of operation is the Republic of Georgia, looks to join AIM end of February 2018. Offer TBC
OnTheMarket—Intention to float on AIM to raise c.£50m which will be used to fund the growth of the OnTheMarket.com portal, already the third biggest UK residential property portal provider. Offer raising £30m at 165p with mkt cap of £100m . Due 9 Feb.
Main Market Specialist Funds
Life Settlement—closed-ended investment company whose principal activities will be to support and manage portfolios of whole and partial interests in life settlement policies issued by life insurance companies operating predominantly in the US. Due 6 Mar.
Main Market Premium Listing
IntegraFin provides platform services to UK clients and their financial advisers through its award-winning platform, Transact. Due Mar 18. FYSep2017 PBT up 44% to £29.9m.
GEMS Education—report by Reuters that the private schools group is seeking a $4.5bn to $5bn London float in 2018. FYAug17 rev $926.2m and adjusted EBITDA $261.6m.
CVC (Sky Bet) rumoured to be seeking £2.5bn plus float.
VC firm Augmentum rumoured to be seeking raise up to £125m.
Premier Veterinary Group (LON:PVG) 5.7m
AGM Statement from the provider of services to third party veterinary clinics The number of revenue generating pets on plan at the end of December 2017 has increased by 31% in the last 12 months to 201,000. “The US remains a significant growth opportunity and the business continues to invest heavily in the US market. Positive progress has been seen to date though it is still to early to draw any firm conclusions.” “The Group held cash balances at the end of December 2017 of approximately £2m. In addition, PVG has access to up to £1.5m in unsecured loan notes to be drawn down in three equal tranches from 1 June 2018 to 31 May 2019 from Bybrook Finance Solutions Limited ("BFSL"). This arrangement provides PVG with security of funding whilst at the same time being sufficiently flexible to consider alternative sources of funding.” FYSep18E rev £3.9m, PBT loss £3.2m.
Spectra Systems (LON:SSPY) 3.5p £47m
“Spectra Systems Corporation, a leader in machine-readable high-speed banknote authentication and brand protection technologies, announces that it received confirmation yesterday from its licensee for covert materials supplied to 18 central banks that the royalty component of the licensee's payments will be higher than previously expected for 2017.
As a result, Spectra estimates that its profits for the year ended 31 December 2017 will exceed market expectations.”
FYDec17E rev $8.69m, PBT $2.48m, Div 4.02p.
IDE Group (LON:IDE) 28.5p £57.2m
“Further to the announcements on 11 July, 1 August, 22 and 30 November 2017, IDE Group Holdings Plc announces that the Company has received a claim for substantial damages from Coreix Limited in relation to the trademark infringement case where liability was decided in 2017.
Coreix's claim has always been stated by Coreix to be for less than £10,000. They have now sought to increase that amount to £500,000, which is the maximum under the Rules of the Intellectual Property Enterprise Court that they can claim in that Court. The Board do not accept that the liability exceeds the amount originally stated and will argue that Coreix's claim should not exceed £10,000 and, even if that is not accepted by the Court, the Company has been advised that its potential liability in respect of Coreix's claim should be materially below £500,000.” FYDec17E rev £65.5m, PBT £2.95m.
Bluejay Mining (LON:JAY) 23p £176.6m
“Bluejay Mining plc, the AIM and FSE listed company with projects in Greenland and Finland, notes the recent speculation regarding a potential fundraise and can confirm that it is in the process of concluding a fundraising of £17m at a price of 22p
A further announcement will be made as and when appropriate.”
Comptoir Group (LON:COM) 19p £23.3m
“The owner and/or operator of Lebanese and Eastern Mediterranean restaurants, is pleased to today announce a pre-close update for the 52 week period ending 31st December 2017.
Despite a difficult market backdrop, the Directors are pleased to report that trading for the 52 weeks to 31st December 2017 was above market expectations. The Company had a strong trading performance during the second half of 2017, ending in a busy December. As announced within the interim results of the Company, published in September 2017, the Company has focused on controlling its costs and improving its operational efficiencies and margins where possible. The Directors expect this focus to continue throughout 2018.” FY17E rev £28m, pre-tax loss £0.7m.
Stride Gaming (LON:STR) 231p £167.79m
AGM Statement from the online gaming operator. “Stride Gaming's positive trading momentum has continued into the start of the financial year and the Group's performance is in line with the Board's expectations. The core Real Money Gaming business continues to perform well, supported by the strength of our first-class proprietary platform, contributions from the acquired 8ball and Tarco businesses that are now fully integrated, and the encouraging start of the Aspers Casino partnership. The Group has continued to execute on its strategy to develop as a leading online gaming operator, underpinned by further investment in resources and people across a range of functions including technology, business intelligence and marketing. Regulation remains central to shaping the future of online gaming, however as a multi-brand operator with scale, Stride is well placed to manage the changing regulatory landscape.” FYAug18E rev £17.63m, PBT £17.63m.
Imaginatik (LON:]MTK) 0.88p £1.96m
“The Board of Imaginatik announces today that it has decided to conduct a review of the various strategic options open to it, one of which is a sale of the Company. The Board has appointed RSM & Co (UK) Limited ("RSM") as financial adviser to assist it with this review. Imaginatik is recognised globally, by industry experts and clients, as providing a leading full-service innovation offering, combining both technology and consultancy services. The Company delivers innovation results to global blue-chip companies, many of whom sit in the Global 500. However, the Board believes that the Company's share price does not reflect either the value of the highly scalable platform itself, or the growth prospects available to the Company. Additionally, the Board is mindful that shareholder value may be maximised by a sale of the Company to a larger organisation that can accelerate growth through access to greater resources and an existing network of global clients.” FYMar18E rev £4.03m, PBT loss £0.78m.
Redhall (LON:RHL.L) 7.87p £26.2m
AGM Statement. "Since reporting our annual results in early December last year, we were very pleased to announce two weeks later that Jordan Manufacturing has a key role in supporting Cavendish Nuclear in the delivery of complex bespoke nuclear equipment for the treatment and management of nuclear containment systems at Sellafield. This contract, which we anticipate will be worth around £18m over its first three years, is a good example of both the capabilities of the Group in engineering and manufacturing highly complex products and the opportunities in this key market. We continue to have good visibility over a strong and improving pipeline of further opportunities with many bids being prepared for some of the largest infrastructure projects in the UK today.” FYSep18E Rev £51.3m, PBT £3.4m.
Ergomed (LON:ERGO) 199p £84.9m
The specialised pharmaceutical services and drug development company announces a £3.9m placing at 190p. The proceeds of the Placing will be used to fund:
* Initial cash considerations for small bolt-on acquisitions to support the Company's Drug Safety & Medical Information and orphan drug CRO service offering;
* Capital expenditure on IT platforms to support the Company's Drug Safety & Medical Information business; and
* Provide the Company with additional working capital.
As at 31 December 2017, the Company had a cash balance of £3.2m and no debt.
FYDec17E rev £46.4m, PBT£2.54m.