What’s cooking in the IPO kitchen?
AIM
Greencoat Renewables - Schedule 1. Targeting a portfolio of operating renewable electricity generation assets, initially investing in wind generation assets in Ireland. Offer TBC. Due Mid July.
FFI Holdings— specialist in the provision of completion contracts to the entertainment industry for films, television, mini-series and streaming product. Offer TBA. Expected 30 June.
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.
Jangada Mines—Sch 1 advanced stage PGM exploration project containing what the Directors understand to be the largest PGM resource, and only pre-development PGM project, in South America. Offer TBA. Expected late June.
Phoenix Global Mining— US Brown field copper play. Expected late June. Offer TBA
Touchstone Exploration— Oil E&P company active in the Republic of Trinidad and Tobago. Interests of approximately 90k gross acres. Production c. 1.3k boepd. Raising £1.5m. Expected mkt cap £7.5m - 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 late June
Tiso Blackstar Group—Schedule 1 update. Media, entertainment and marketing solutions group/ £160m mkt cap. Admission only. Expected late June.
Main Market Standard Listing
Rockpool Acquisitions—Northern Ireland based Company seeking strong NI acquisition with an international outlook. Raising £1.5m at 10p. Due 5 July.
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.
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.
Kuwait Energy— $150m raise plus vendor offer. Admission due June. 2p reserves 810.0 mmboe
Breakfast buffet
HaloSource* (LON:HAL) 0.28p £0.61m
The global clean water technology company has raised approximately £1.8 million at 1.5p. The net proceeds of the Fundraise will provide additional working capital to the Company, fund commercialisation of the Company's lead removal technology and allow the Company to expand its drinking water business. On completion of the Fundraise, the Company expects to have sufficient cash to fund it through to Q2 2018, and will be able to continue progress on the development and scale-up of the Company's new lead removal technology. The Company believes that the lead removal technology will enable the Company to offer a powerful combination of heavy-metal removal along with viral and bacterial disinfection already provided by its HaloPure® technology.
Kin Group* (LON:KIN) 0.081p £1.42m
The digital wellness provider for corporate organisations, trading as Kin Wellness, announced that as of June 2017 it has contracted with an NHS Trust hospital to provide a services programme for doctors, nurses and staff.
The project has an initial value of £26,000, will run for the duration of one year and will support the hospital in their ongoing commitment to improving the health and wellbeing of their workforce.
Chief Executive Anna Gudmundson commented: "We are very excited by this development and to be working with an NHS Trust. We hope that this will be the start of a continuing relationship within the NHS."
Inqo Investments (AQSE:INQO) 89.5p £10.4m
FYFeb17 results from the South African based social impact company that acquires and invests in businesses that tackle poverty and the social needs of low income earners at the base of the economic pyramid in Sub-Saharan Africa. The results for the year reflect a profit before tax of R10,259,510 (2016: Loss of R4,718,271). Inqo expects to benefit from the improved trading from the Kuzuko Lodge operation and the first revenues from each of the Bee Sweet Honey and Four One Financial Services Investment. The improved room rates that have been achieved and the increased occupancies experienced at Kuzuko Lodge in the latter part of the 2016/7 year and the first quarter of 2017/8 are expected to continue on the back of the fact that the Rand remains weak against other currencies making South Africa an attractive destination.
Surface Transforms (LON:SCE) 19.12p £17.3m
Operations, Customer and Pre Close Trading Update. Knowsley factory: move is now fully completed, albeit with certain production interruptions incurred during the move. Aerospace: continuing delays on commencement of aerospace revenues originating from the airframe manufacturer; management discussions with immediate landing gear customer for a commercial response to offset the consequences of this airframe delay. German OEM 3: now expected to introduce the Company's products earlier than expected - on racetrack cars - in 2018. However, extended testing of road cars means volume sales delayed by one year. Engineering work on the Aston Martin order (won in the financial year) continues to plan. Sales for the year at £702k, were lower than expected, but record visibility of £889k for current year.
Aukett Swanke (LON:AUK) 2.5p £4.13m
HYMar17 results from the international practice of architects and interior design specialists and engineer. Revenues down 9% at £9.1m. Net cash at £1.56m with net funds of £594,000. Loss before tax of £358,000. "All Group operations have worked hard to maintain revenues during the period although some markets have continued to weaken, resulting in decreased earnings. This coupled with some specific write downs offset by claim recoveries, has resulted in losses which has hampered the development of our three hub structure. We are, however, pleased to report that we have maintained our liquidity strength." Focussing on cost savings. Fairly bearish on UK prospects. UAE best opportunity for profitable growth.
Morses Club (LON:MCL) 129.5p £170.3m
AGM statement from s the second largest UK Home Collected Credit lender. "Trading performance over the period is encouraging and is in line with the Board's expectations. Our net loan book and customer numbers have continued to increase and impairments remain within our guidance range reflecting our focus on higher quality lending. Territory builds have contributed to our loan book growth and continue to represent an attractive opportunity for us.” Digital expansion proceeding well and full FCA authorisation received in May.PE c.11x, yield 5.4%.
Ariana Resources (LON:AAU) 1.64p £14.36m
£2m fundraise at 1.3p. The net Proceeds will be used, in part, for working capital support of its joint venture operating company, Zenit Madencilik San. ve Tic. A.S., a 50:50 partnership between Ariana and Proccea Construction Co., prior to the Kiziltepe operation achieving commercial production. The Proceeds will also be directed towards the continued exploration and development of the Company's portfolio of advanced assets in Turkey, including Salinbas and Tavsan. Operationally, the ramp-up to full production capacity at Kiziltepe remains on track and is expected to be concluded by the end of June 2017, following which quarterly production reporting will commence and particularly once commercial production has been achieved.
Tlou Energy (LON:TLOU) 6.75p £20.52m
Tlou has generated its first power from Coal Bed Methane at its field in Botswana following the installation of a Gas Generator at the Selemo project area. The Company has the most advanced CBM project in Botswana, the Lesedi Project, and already benefits from significant, independently certified Contingent Gas Resources of ~3.2 trillion cubic feet (3C) and independently certified Gas Reserves. Tlou has been producing gas at Selemo for approximately 12 months. “CBM gas is a cheaper and cleaner alternative to diesel generation and is significantly cleaner than coal fired power generation."
Shanta Gold (LON:SHG) 7.32p £43.13m
Proposed $14m capital raising. Price to be set by accelerated bookbuild. Certain directors and employees have indicated an intention to participate in the Placing. Further, Odey Asset Management, the Company's current significant shareholder has also indicated their intention to participate in the Fundraising. Certain directors and employees have indicated an intention to participate in the Placing. The proceeds of the Fundraising will provide funds for growth allowing Shanta to deliver the Revised Mine Plan ("RMP"), integrate Helio's assets into the New Luika Gold Mine ("NLGM") mine plan and to seek out and firm up high grade opportunities in the surrounding area; Being combined with material debt restructuring.