What’s cooking in the IPO kitchen?
AIM
I3 Energy – Schedule 1. Independent oil and gas company with assets and operations in the UK. Offer TBC, 26 May admission.
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 late May.
Tiso Blackstar Group —Schedule 1 update. Media, entertainment and marketing solutions group/ £160m mkt cap. Admission only. Expected late June.
Main Market Premium Listing
Curzon Energy —Report on Proactive Investors of intended LSE float this year with acquisition of coal bed methane assets in Oregon. Looking to raise £3m plus.
NLB Group —financial and banking institution based in Slovenia, with a network of 356 branches. Seeking Ljubliana Stock Exchange listing with GDRs on the LSE. Expected mid June.
Flying Brands (LON:FBDU)—Prospectus approved by FCA. RTO of Stone Checker Software, supplier of technology solutions in the field of kidney stone analysis and prevention. Has raised £550k at 3p. Subject to GM on 15 Jun.
AEW UK Long Lease REIT—Intention to Float. Up to £150m raise. Admission early June. UK specialist and alternative property
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.
Main Market Specialist Funds
Tufton Oceanic Assets – Extended to 9 May on specialist funds segment of Main Market to enable further due diligence.
PRS REIT—Private rental sector REIT raising up to £250m. Admission due 31 May
Breakfast buffet
Physiomics* (LON:PYC) 1.35p £0.77m
The Oxford, UK based systems biology company, has been contracted for two further extensions to a Virtual Tumour project with a major global pharmaceutical company, first announced on 1st March 2012. These projects will be performed on a fee-for-service basis. Dr Jim Millen, CEO of Physiomics, commented:
"We are very pleased to have further extended this collaboration, showing the value of our Virtual Tumour technology in supporting the development of follow-on compounds and indications."
Crossword Cybersecurity* (AQSE:CCS) 195p £6.1m
The technology commercialisation company focusing exclusively on the cyber security sector has raised £145.3k at £2.3 from an existing substantial shareholder. The price represents an 18% premium to yesterday’s closing mid price.
Cellcast (LON:CLTV) 4.25p £3.29m
FYDec16 results from the provider of participatory television programming and interactive telephony technology for the fast growing cross-platform digital entertainment sector. Group operating revenues of £12.1 million (2015: £11.8 million), comprising: core interactive broadcast revenue of £11.5 million (2015: £11.8 million); and first revenues from the Group's new venture, providing technical services and consulting to overseas gaming and lottery operators, of £620,000. Profit for the year increased 21.7% to £645,000 . Net cash of £1.1m. Trading during the year to date has been challenging within the Group's core business and the Group is looking to restructure its cost base in line with these challenges. We could see no market forecasts.
Hague and London Oil (LON:HNL) 12.13p £2.93m
FYDec16 results. Repositioned the Company to pursue a lower risk strategy in line with current market environment in proven areas and with existing infrastructure. MoU signed with ENGIE to target asset natural gas production acquisitions in Europe. Higher risk exploration assets spun off into Vermeer Exploration BV. Loss greatly reduced to £0.7m. Cash £0.05m. G&A down to £0.68m. Conditional agreement regarding the acquisition of a portfolio of non-operated natural gas production assets from Tullow Oil in the Netherlands. Started funding discussions. ‘Whilst this potential acquisition is significant progress within HALO's corporate plan, we see it as just the initial step on our path to building a substantial and sustainable E&P business .’
WANdisco (LON:WAND) 445p £167.3m
AGM Statement from the specialist in Active Data Replication™. WANdisco Fusion product now generating significant sales momentum. WANdisco Fusion is the only solution available in the world that enables the replication of continuously changing data with guaranteed data consistency and no down-time. "Alongside our strong sales traction, we have realigned our cost base, which we now believe is at an appropriate level to deliver a positive EBITDA. In April of this year we reported that WANdisco delivered a cashflow neutral performance in Q1 2017, ending the quarter with $7.6 million of cash.” Record order in Q1 of $4.1m. FYDec17E rev £12.3m and £7.7m loss.
TrakM8 Holdings (LON:TRAK) 101p £36.05m
The telematics and data provider has been awarded an initial contract by a roadside assistance technology company, to supply devices and data. The initial contract includes a number of devices for the initial launch, along with integration engineering fees. The contract is for launch in July 2017 to the customer's roadside assistance partners in Europe. The initial focus will be in the UK and Holland. It is expected that the solution will be extended to other European markets in due course. Trakm8 will provide its latest generation Connect 300 plug in telematics device. Data supplied will be from the Trakm8connectedcare solution to monitor the vehicle health and usage. FYMar17E £27m. PBT £1m.
Obtala (LON:OBT) 19p £56.5m
Acquisition of WoodBois, a leading global trader and producer of sawn timber. Profitable for past 5 years and immediately cash accretive to the Group. Historic trading revenues c$15m, profits invested in production assets. 102,000 acre concession in Gabon with fully operational 24,000m3 sawn capacity sawmill, 18,000m cubed veneer plant opening in 2017. Consideration of $14.8m over 3 tranches and including c$4m Obtala equity. Deferred consideration over 5 years tied to management retention.
Atlantis Resources (LON:ARL) 49.5p £57.89m
Completion of conditional £4.05m placing at 45p from vertically integrated project developer and power generation equipment supplier in the marine power industry. The net proceeds of the placing will contribute to the identification and development of new opportunities, the progression of existing projects including MeyGen, general working capital and the repayment of certain debt facilities.
Applied Graphene Materials (LON:AGM) 200p £44.58m
Applied Graphene Materials has registered a patent having developed a highly innovative, new technology, Structural InkTM, that once fully commercialised will be targeted at the advanced composites industry. By adopting Structural InkTM technology, end users will have the ability to increase mechanical toughness, which can be derived through the addition of graphene. “Taking the latest forecast into consideration our expectation is that LBITDA for the year ending 31st July 2017 will be in line with earlier estimates at a loss of £(4m) based on revenues for the current year of £0.3m.” Cash expected to be significantly ahead of expectation at £4.5m.