What’s cooking in the IPO kitchen?
AIM
Andes Energia PLC—Sch1 on admission the Company will change its name to Phoenix Global Resources plc will be an Argentinian independent oil & gas exploration and production company, offer TBC but market cap to be £844m and admission date 10 August 2017
Verditek PLC—Sch1 update from holding company in the clean technology sector with subsidiaries operating within what it considers are emergent and fast growing sectors (industrial treatment of solids, air purification, water de-odourisation, zero emission, low cost energy), offer raising £2.75m at 9p with market cap of £16.9m. Admission 10 August 2017
Strix Group PLC—Sch1 from the Company involved with the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration. Offer raising £190m at 100p with market cap of £190m admission date 8 August 2017.
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 up to £3m at 28.3p with anticipated market cap of £13.7m, Admission 4 August.
Altus Strategies—African focused natural resource Company. Offer TBC. Expected early August.
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
Breakfast buffet
MayAir Group (LON:MAYA) 84p £35.25m
The specialist provider of air purification technology, announced it has secured a contract win in Industrial sales for a total value of US$13.6 million. The contract is to supply Chengdu CEC Panda Display Technology Co Limited ('CEC Panda') with fan filtration units ('FFUs'), filters and related clean room equipment. Based in Chengdu, CEC Panda is a Chinese LCD panel maker and is a subsidiary of Panda Group, a large state-owned electronics company which has been operating for over 70 years. The Directors expect that this industrial project will complete during 2017. We could see no market forecasts.
Gattaca (LON:GATC) 270p £83.49m
The specialist Engineering and Technology recruitment business, provided a pre-close trading update for the 12 months ended 31 July 2017. The Board expects profits to be broadly in-line with market expectations. Overall NFI declined in the year by 4% as the ongoing Brexit negotiations, IR35 tax changes and the UK General Election all eroded confidence. Whilst Q1 to Q3 NFI was down between 4% and 5%, the rate of decline improved with Q4 being 2.4% lower than last year. Net debt at 31 July 2017 was £41m, up from £28m on 31 January 2017. £7.2m of dividends were paid in cash during the year. FY Jul 17E rev £633.87m and PBT £16.6m.
Sunrise Resources (LON:SRES) 0.14p £2.44m
The Company focusing on the development of its CS Pozzolan-Perlite Project in Nevada, USA, provided an update following completion of the drilling programme announced on 13 July 2017. Drilling programme completed on schedule. Programme expanded from 5 drill holes in Main Zone to 9 holes, including 2 holes in Tuff Zone. Thick intervals of perlite-pozzolan visually identified from drill samples (to be confirmed by testing). Quality testing of drill samples now underway. Exceptional results from initial testing of surface samples from new Northeast Zone.
SEC (LON:SECG) 119.5p £14.6m
SEC, the largest independent advocacy, public relations and integrated communications agency in the Italian market, with operations in Brussels, UK, Germany, Spain and Poland, announces that it has agreed a £3 million equity investment in Porta Communications PLC ("Porta" - AIM: PTCM.L) and a commercial collaboration agreement with Porta.
Alongside SEC's strategic investment and the commercial collaboration agreement, Mr Fiorenzo Tagliabue, CEO and founder of SEC, will be appointed to the board of Porta, as Non-Executive Deputy Chairman.
Botswana Diamonds (LON:BOD) 1.3p £4.93m
£543k raised at 1.25p. The cash was raised from directors' families and investors in Ireland. “The proceeds raised will be used to bring the Frischgewaagt project to Inferred Resource status and to continue our Botswana exploration activities.”
Ebiquity (LON:EBQ) 119.5p £87.25m
HYJun17 trading update from the marketing analytics specialists. Ebiquity's total revenues have grown by 5% over the period, with operating profit and earnings anticipated to be in line with market expectations. Whilst the first half of the year has been softer in the US, we anticipate stronger performance from the US MPO and MVM in the second half of the year and we are pleased that the MI practice has returned to growth following high renewal rates and new product launches. Management anticipate that full year trading will be broadly in line with market expectations. FYDec17E rev £91m, PBT £12.3m.
Byotrol (LON:BYOT) 5.25p £11.39m
The Producer of Professional and Consumer Antimicrobial Technologies and Products has announced a £4.3m conditional placing and associated Open Offer of up to £1.1m at 4p. The proceeds will be mainly used to invest in sales and marketing resource to drive sales in the EU and in the US following the recent EPA approval. The Issue Price represents a discount of approximately 14 per cent. to the closing mid-market price of 4.625 pence per Ordinary Share on 2 August 2017 . FYMar17E rev £2.98m and small PBT loss.