What’s cooking in the IPO kitchen?
AIM
QUIZ— omni-channel fast fashion womenswear Company intention to float. Due July 2017. Offer TBA
Ethernity Networks—Schedule 1 from Israeli based specialist in data processing technology used in high end carrier ethernet applications across the telecom, mobile, security and data centre markets . Expected late June. Offer TBA.
Phoenix Global Mining— US Brown field copper play. Expected late June. Offer TBA
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 late 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
Residential Secure Income - social housing REIT raising up to £300m Admission due c.12 July.
ScotGems—Admission due 26 June. Seeking £50-£100m. To investing in a diversified portfolio of Small Cap Companies listed on global stock markets
DP Eurasia—Intention to float from the exclusive master franchisee of the Domino's Pizza brand in Turkey, Russia, Azerbaijan and Georgia . £20m primary raise plus a partial vendor sale.
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. Valuation range €10.6-€13.3bn. Admission end June.
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.
Kuwait Energy— $150m raise plus vendor offer. Admission due June. 2p reserves 810.0 mmboe
Breakfast buffet
Clear Leisure (LON:CLP) 0.7p £2m
The Court Prosecutor of Ivrea, Metropolitan City of Turin, has filed a winding up request on Mediapolis srl, the Group’s 74.67% directly owned subsidiary that holds its interest in Mediapolis, a strategic 497,884 sqm site on the A4/A5 motorway between Milan and Turin and 10 holiday villas in Porto Cervo, Sardinia. “We are dealing with the winding up petition, by accelerating discussions with existing creditors to achieve settlements before 23 June. However, having acquired the Mediapolis EUR3.1m bank debt at the beginning of May 2017, with the attached first charge over the asset, we have legally ring fenced the Mediapolis site for the benefit of Clear Leisure and its shareholders.”
ECR Minerals (LON:ECR) 1.85p £4.58m
The planned exploration drilling programme at the Bailieston licence in Victoria, Australia has now commenced. Initial drill programme to test most significant prospects at high-priority Byron target within Bailieston licence area has commenced. Byron, an historic mine, which produced 4,416oz Au from 8,698t mined at an implied grade of 15.5g/t Au. ECR is planning to undertake a high-quality low-cost exploration programme to test extensions to the known mineralisation at Byron and generate additional targets for a more comprehensive programme. The Central Victorian Goldfields, one of the premier gold districts in the world in terms of production, is estimated to have produced over 80.4Moz AU. Bailieston licence area is in close proximity to other highly successful currently producing gold mines.
Eurasia Mining (LON:EUA) 0.5p £7.72m
Eurasia announced an extension to the Heads of Terms agreement with OOO Metallurg Complect, over the Semenovsky Tailings Project. Eurasia's exclusive right to acquire up to 67per cent of the project has now been extended to end of August 2017. This timeline ensures sufficient time for Eurasia to continue its development program at Semenovsky, ahead of making a final decision on participation. At a 10per cent discount rate Eurasia has estimated the project Net Present Value to be approximately $15 million with a project Internal Rate of Return of approximately 54per cent. However, at this stage, there can be no guarantee that these results will be achieved.
Diurnal Group (LON:DNL) 129p £67.35m
The specialty pharmaceutical company targeting patient needs in chronic endocrine (hormonal) diseases, announces that it has successfully dosed the first patient in a food matrix compatibility study for Infacort® in healthy volunteers. This study supports the planned US registration package for Infacort® for the treatment of paediatric adrenal insufficiency (AI). As previously announced, Diurnal will initiate the pivotal Phase 3clinical trial in the target paediatric population following final confirmation on the trial design from the FDA. The primary objective of the study is to evaluate the bioavailability of Infacort® multiparticulate granules administered as sprinkles with soft food or yoghurt compared. The secondary objective is to assess safety & tolerability.
APQ Global (LON:APQ) 104.5p £81.57m
As announced on 13 June 2017, the Company is exploring a further capital raise in order to increase the size of the Company. The Board considers that an attractive way for the Company to raise capital at the current time for investment in accordance with its business strategy would be through the potential issue of a convertible debt instrument, comprising convertible unsecured loan stock ("CULS"). The Board believes that there may be interest from potential investors in an issue of CULS to raise approximately £20 - 25 million which would carry a circa three per cent. annual coupon (payable quarterly) with a potential seven year term, and which would have quarterly conversion rights at a 20 per cent. premium to book value per share.
CyanConnode Holdings (LON:CYAN) 0.15p £27.2m
The specialist narrowband radio mesh networks, announces that the $5.4m purchase order from a specialist in energy management systems for a smart metering contract in Bangladesh, South Asia announced on 9 February 2017 has now been increased to $9.3m. The Advanced Metering Infrastructure solution order has been increased from 150k to 250k units to meet the increased requirements of the geographic territory that has been awarded to the energy management systems company based in Eastern Europe. The company, which manufactures circa. 1.5m utility meters pa will integrate CyanConnode's hardware with its meters and shipment to their production facility will take place over the next 12-18 months. We could see no forecasts.
Starcom Plc (LON:STAR) 1.5p £2.4m
The specialist in the development of wireless solutions for the remote tracking, monitoring and protection of a variety of assets and people, announced a 3 year supply & support agreement with Shiptek Solutions Corporation ("Shiptek"), a Philippine software company, for the supply of its Tetis R container tracking system. Shiptek has committed to purchase a minimum of 2,900 Tetis R units over three years for a total sales value of US$1.2 million, and has placed an initial order of US$42,500 (for 100 units). The minimum order commitment of the remaining 2,800 units is phased as to 800 units in 2018, 800 units in 2019 and 1,200 units in 2020. Possible additional SaaS revenues of $250k over 3 years. FYDec17E £4.8m rev and £0.4m
Shield Therapeutics (LON:STX) 168.5p £182.2m
The specialty pharmaceutical company focused on the development and commercialisation of late-stage pharmaceuticals that address unmet medical needs in secondary care, today announced its intention to raise a total of approximately £12 million. Combined warrant exercise (£10.3m), placing (£1.5m) and subscription (£0.145m) all at 150p. Proceeds to fund increased commercialisation activities for Feraccru in the UK and Germany; deliver primary endpoint data from the pivotal phase 3 AEGIS Chronic Kidney Disease ("CKD") study (anticipated Q4 2017); and provide further working capital until towards the end of Q1 2018.
Science in Sport (LON:SIS) 85.5p £39m
The sports nutrition company that develops, manufactures and markets sports nutrition products for professional athletes and sports enthusiasts, announces it is the Official Sports Nutrition Supplier to British Triathlon, and will supply British Triathletes across both the Olympic and Paralympic National Lottery Funded Programmes, including Tom Bishop, Alistair and Jonathan Brownlee, Lucy Hall and Alison Patrick. In addition to the British Triathlon Team SiS will engage with a growing audience of over 80,000 triathletes across the event portfolio and the British Triathlon databases. FYDec17E rev £15.1m and £0.26m PBT.
Ace Liberty and Stone* (AQSE:ALSP) 115p £43.3m
The active property investment company capitalising on commercial property investment opportunities across the UK, announced that it intends to pay an interim dividend of 1.00 pence per share, which equates to a total payment of approximately GBP 393,721. The dividend will be paid on 14 July 2017 to shareholders who were registered on 23 June 2017. The ex-dividend date is 22 June. Ismail Ghandour, Chief Executive of the Company commented: "This is the fourth consecutive year Ace has paid a dividend to shareholders rewarding them for their support. Over this period the rate has increased from 2.4% to 4.0% reflecting the Company's growth."