What’s cooking in the IPO kitchen?
AIM
Xpediator Plc—Sch 1 from the holding Company for an integrated freight management business operating in the supply chain logistics and fulfilment sector across the UK and Europe with a strong presence in Central and Eastern Europe. Offer details TBC, expected Admission early August 2017.
GetBusy PLC—Sch1 from the holding Company of its subsidiary undertakings, which operates as a document management software business, headquartered in Cambridge, UK and operating across the UK, USA, Australia and New Zealand. Capital to be raised via a rights issues of £3m at 28.3p with anticipated market cap of £13.7m, Admission 4 August.
Quiz—Sch 1 from the omni-channel and international own brand in the women's value fast fashion sector. Offer raising £102.7m at 161p, expected market cap £200m. Expected 28 July. Last year Quiz posted sales of £87.4m while pre-tax profits grew by 17pc to £5.7m.
Arena Events Group -provider of temporary physical structures, seating, ice rinks, furniture and interiors. Raising £60m. Mkt cap £63m. Expected on the Chef’s birthday, 25th July.
Altus Strategies—African focused natural resource Company. Offer TBC. Expected Early August.
Harvey Nash Group— Provider of professional recruitment and offshore solutions moving to AIM from Main, 8am 28 July 2017. No capital to be raised. Mkt Cap c. £57.8m.
Greencoat Renewables - Schedule 1. Targeting a portfolio of operating renewable electricity generation assets, initially investing in wind generation assets in Ireland. Offer raising €270m at €1 with expected market cap of €270m. Due 25 July 2017.
I3 Energy –Schedule 1 Update. Independent oil and gas Company with assets and operations in the UK. Issue price of 55p with anticipated market cap of £14.3m, 25 July Admission.
Verditek— Sch 1 update. 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. There has been no official update here for a while.
Main Market Premium Listing
Hipgnosis Songs Fund investment Company offering pure-play exposure to Songs and associated musical intellectual property rights. Offer raising £200m at 100p. The Company has decided to extend the closing date for the Placing, Offer for Subscription and Intermediaries Offer to 1 August 2017. The Company may bring forward this closing date at any time. Admission 4 August 2017
Brunch buffet
TP Group (LON:TPG) 7p £32.59m
The specialist services and engineering group announced that it has been awarded a £1.9m contract from a new customer, a shipbuilding prime contractor in South East Asia. This new contract, which is expected to be delivered over a two year period, will see TP Group provide submarine life-support systems which will be built by TPG Maritime at its manufacturing and engineering centre in Portsmouth. "We are very pleased to be working with this new South East Asian based tier-1 customer. The contract builds on TPG's longstanding successes in the region, as announced in prior years, and further strengthens our presence in this strategically important market."
Nasstar Plc (LON:NASA) 9.5p £55.06m
The provider of hosted managed and cloud computing services provided a trading update for the HY 30 June 2017. Trading in the first half of the year has been positive as the Company start to see the benefits of the "Nasstar 10-19" programme comes through. The ultimate goal of "Nasstar 10-19" is to maximise revenue and cost synergies to increase Group EBITDA margins from 20% to 25% of revenue by the end of 2019. Investment in growing the Nasstar business has continued during the first half. The Company is investing significantly in the account management team to ensure customers are proactively managed and revenue opportunities within the wider client base maximised. Visibility on full year expectations remains high and the Board is confident that the 2017 full year results will be in line with market expectations.
Crossrider Plc (LON:CROS) 61.5p £86.74m
The B2C security software and online distribution platform announced a trading update HY 30 June 2017. The Company reported that trading is in line with expectations. Crossrider continues to make significant progress on the Group's strategic priorities, with revenues expected to be approximately $29.7m and adjusted EBITDA in the region of $3.0m. Crossrider's core App Distribution division has performed strongly in H1 with revs expected to be $20.6m (H1 2016: $18.2m), reflecting the successful expansion of Crossrider's B2C cyber security software business. The Media division's performance continues to be stable with revenues for the H1 in the region of $7.4m (H1 2016: $7.5m). Cash conversion is strong at c.90% with the Company’s cash balance at $67.9m including a $6.4m acquisition expenditure.
IXICO (LON:IXI) 32p £8.68m
The digital technologies Company serving neuroscience announced an expansion of its pilot of the Assessa® PML platform which includes Biogen, a leading company in Multiple Sclerosis, and expert reading institutions. The Assessa® PML digital platform is being piloted in five EU countries as part of a collaborative agreement. The aim is to facilitate the remote transfer, management and storage of MRI scans to more reliably and effectively offer access to reading expertise for the detection of Progressive Multifocal Leukoencephalopathy. The total contribution paid or to be paid to IXICO and its partners is in the order of £1.5m, of which £0.8m has been recognised from project inception to date. Subject to the timing of the work being performed, the fees payable to IXICO support the Company's confidence in delivering revenue growth in the financial year ending 30 September 2017.
Quixant (LON:QXT) 415p £268.66m
The provider of innovative, highly engineered technology products principally for the global gaming industry, announced an update on trading for HY 30 June 2017. Trading has been stronger than previously anticipated and the Company expects to report revenue for the first half of approximately $56m, with both the core gaming division and Densitron performing well. The Company saw elevated demand from customers in the gaming division in H1 2017 which boosted revenues for that period. As a result, the Company currently anticipates that, unlike previous years, the Company's full year results will be first half weighted.
Everyman Media Group (LON:EMAN) 166.5p £99.71m
The Company issued a trading update for six months ended 29 June 2017. The Group ended the period with 21 operating cinemas. The Group remains on track to open a three screen cinema in Kings Cross in November 2017. Demand for the Everyman offer continues to strengthen and the Group announced that new contracts have been exchanged for venues in Borough Market (2020), Liverpool (2018) and Newcastle (2018). The Group has performed in line with expectations and is confident of a successful outcome for the full year and the pipeline is continuing to be developed in line with investors' expectations.
Biome Technologies (LON:BIOM) 202.5p £4.11m
The bioplastics and radio frequency technology business provided a trading update for the six months ended 30 June 2017. Total Group revenues were £3.0m, representing a 38% increase compared to the same period last year (2016: £2.2m). The Directors expect that the Group will report a small profit before interest, tax, depreciation, amortisation, and share option charges for the first half of the year. The Group's cash position as at 30 June 2017 was £1.9m (31 Dec 2016: £1.5m, 31 Mar 2017 £1.8m), reflecting trading activity and receipt of £0.45m in Q1 under the settlement agreement reported previously. Biome continues to make progress against the strategy as set out in the Group's full year results announced in March 2017 and against this background the Board remains confident in the Group's outlook for the remainder of the year.
Mytrah Energy (LON:MYT) 29.5p £46.64m
The renewable focused independent power producer announced that 53 MW of solar capacity is now operational at plants in Punjab and Telangana. In addition, the Company has added a further 65 MW of wind power, bringing total installed capacity to 1,119 MW. A further 624 MW of wind and solar plants are currently under construction. The first half of 2017 has seen wind in line with expectations across the portfolio, with energy sale revenues increasing around 60% over H1 2016 as a result of increased capacity. “With 1,119 MW total wind and solar capacity today, and an additional 624 MW in construction, Mytrah has built a large-scale utility business with strong, stable cash flow and tremendous growth prospects."
Draper Esprit PLC (LON:GROW) 325p £226.72m
The venture capital firm involved in the creation, funding and development of high-growth digital technology businesses across Europe announced its portfolio companies have raised a combined total of £54m of additional capital, of which funds managed by the Group contributed a total of £25m. "We invest in growing technology companies across Europe and source the best deals from thousands of companies, providing them with the capital, expertise and networks to fuel their growth. Earlier this year we announced that in aggregate the group had raised in excess of £160 million of new patient capital across our Plc, EIS, VCT and secondary co-investment fund platforms.”
Asa Resources (LON:ASA) 1.95p £33m
The Company announced that its subsidiary SouthernEra Diamonds Inc, in which Asa Resource holds a 73% stake, has agreed to dispose of its Klipspringer Diamond Mine interests located in South Africa for approximately £1.37m payable 50% in cash on fulfilment of initial conditions precedent and 50% on fulfilment of final suspensive conditions including the regulatory approvals by the South African government. Moreover, Asa Resource will additionally earn 3% royalty on gross monthly diamond sales.