What’s cooking in the IPO kitchen?
AIM
Touchstone Exploration— Oil exploration and production company active in the Republic of Trinidad and Tobago. Interests of approximately 90,000 gross acres. Production c. 1,300 boepd. Raising £1.45m. Expected mkt cap £7.5m. Due 26 June.
I3 Energy –Schedule 1. Independent oil and gas company with assets and operations in the UK. Offer TBC, 7 June 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 Early June
Tiso Blackstar Group—Schedule 1 update. Media, entertainment and marketing solutions group/ £160m mkt cap. Admission only. Expected late June.
Main Market Premium Listing
Film Finances—Sky News reports that ‘movie financing company with credits including the Hollywood hits La La Land and Nocturnal Animals is plotting a blockbuster premiere on the London stock market that will value it at several hundred million pounds.’ Expected ‘during the summer’.
AIB—Intention to float from AIB, Ireland's leading retail and commercial bank . The Minister for Finance intends to sell approximately 25% of the Ordinary Shares of AIB. Prospectus and announcement of the price range due in mid-June 2017.
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
Kuwait Energy— $150m raise plus vendor offer. Admission due June. 2p reserves 810.0 mmboe
Breakfast buffet
Motif Bio (LON:MTFB) 39p £76.5m
The clinical stage biopharmaceutical company specialising in developing novel antibiotics, announced its intention to raise approximately £19.4 million (US$25 million), before expenses, by way of a conditional placing with new and existing investors to fund the further development of iclaprim, the Company's novel antibiotic candidate. The Bookbuild is expected to close at or before 1:00 p.m. today, 2 June 2017.
Fusionex International (LON:FXI) 42.25p £22.98m
The software solutions provider specializing in Big Data Analytics and Internet of Things, announced the official launch of its latest software platform, GIANT 2017. This follows a successful soft launch late last year where ten companies were invited to take part in the pilot of GIANT 2017. To date, eight out of these ten pilot companies have already signed up for GIANT 2017 including several previously announced contract wins with blue-chip clients across a number of sectors. FYSep17E rev £23m and £0.65m.
Tissue Regenix Group (LON:TRX) 15p £114.2m
11mth results to Dec 2016 from the regenerative medical devices company. Revenues increased 77% to £1.4 million (2016: £816k), driven by: Strong performance from DermaPure® sales, up 64% to £1.3 million. First Revenues from joint venture GBM-V. Operating loss of £11.1 million (2016: 10.2 million) as expected reflecting increased investment in sales and marketing Cash and cash equivalents as at 31 December 2016 of £8.2 million. Signed three US Group Purchasing Organisations (GPO) Agreements including top two GPO's in US, Premier and Vizient, securing 75% coverage of GPO hospital beds in US. Secured further Medicare coverage to 93% of outpatient settings. Added to Federal Supply Schedule, covering an additional 9 million patients. FYDec17E £55.6m rev and £14m loss.
Ormonde Mining (LON:ORM) 1.32p £6.26m
Update of construction activities for the Barruecopardo Project in Salamanca, Spain. The Project Board has authorised the issuance of outstanding approvals on various equipment and plant construction contracts, thus advancing the Project into an accelerated construction and implementation phase, with an updated schedule allowing for mine commissioning in the third quarter of 2018. These approvals come against a backdrop of rising tungsten APT prices, and increasing demand for tungsten concentrates, which will serve to de-risk the Project during the commissioning stage.
TomCo Energy (LON:TOM) 0.07p £1.85m
TomCo has entered into a framework agreement with several partners under which TurboShale, an oil shale technology company set up by TomCo will acquire certain patents and is seeking to research, develop, patent and commercialise technologies that will allow licenced oil shale companies to produce synthetic crude oil on a commercial basis at current oil prices, and with a low impact on the environment, in exchange for a production royalty and licence fee. TurboShale is seeking to raise up to US$1.5 million by way of a private placement.
Draper Esprit (LON:GROW) 333.87p £136m
The venture capital firm involved in the creation, funding and development of high-growth digital technology businesses across Europe, announced that gross proceeds of approximately £100 million have been raised at an issue price of 324 pence per share. Last reported NAV 352p. The primary purpose of the Placing and Subscription is to raise further funds so that the Company may continue to develop its successful strategy since IPO of investing in early and growth stage digital technology businesses in order to deliver attractive long term returns to investors.
AFH Financial Group (LON:AFH) 195p £58.7m
Another day another acquisition for the financial planning led wealth management firm. Eunisure a face to face adviser led financial planning business focused on the protection market based in Newmarket, Suffolk. the maximum consideration payable by AFH is £4.5 million, based on a targeted increase in Group profitability attributable to the core Eunisure business and introduced financial planning led investment management. For the 12 month period ended 31 December 2016 Eunisure generated revenues of £5.6m, and reported profit before tax of £241,927 (which the Company estimates to be approximately £950,000 profit before tax on a pro forma basis). FYOct17E rev £28m and PBT £4.46m, div 3.54p.
WYG (LON:WYG) 97.5p £68.15m
The global project management and technical consultancy, is pleased to announce it has recently been awarded two major new framework contracts with UK government agencies and a significant new contract in Africa in its international development market. Together, the contracts are estimated to be worth approximately £50m to WYG over the next three years. FYMar18E rev £162m and PBT £10.85m, 7xPE and 2.2% yield.
Cohort (LON:CHRT) 417.5p £169m
The independent technology group, announced that its subsidiary MCL has been awarded two contracts by the MOD to supply and support hearing protection systems and communication ancillaries for land, maritime and air applications, worth a combined £5.5m. A follow-on order worth £3.2m for Tactical Hearing Protection Systems for Dismounted Close Combat Users and a new contract to provide In Ear Communication Devices (IECD) for RAF pilots and air crew, with an initial value of £2.3 million over five years with options for a further two years. FYApr18E £138.9m and PBT £16.6m/ PE<14x. 1.8% yield.
Integumen (LON:SKIN) 3.13p £5.18m
FYDec16 results from the personal health care company developing and commercialising technology and products for the human integumentary system. Operating loss £1.1m. A year of transformation as the Group has successfully acquired and integrated three businesses in the period under review, with one further acquisition in 2017, to create a strong product portfolio within skincare, oral care and wound care; IPO’d in April 2017 raising £2.25m.