What’s cooking in the IPO kitchen?
AIM
OnTheMarket—Intention to float on AIM to raise c. £50m which will be used to fund the growth of the OnTheMarket.com portal, already the third biggest UK residential property portal provider. Expected valuation £200m to £250m.
Wilmcote Holdings plc—Sch1 from the Company established with the objective of creating value for its investors through the acquisition and subsequent development of target businesses in the downstream and specialty chemicals sector. Offer raising £15m at 120p with market cap of £25m. Expected 17 August 2017
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 15 September 2017
Breakfast buffet
DCD Media (LON:DCD) 245p £6.23m
DCD has licensed the production of September Films' top-rated format 'Bridezillas' to the broadcaster WE tv. September Films' highly popular and long-running wedding series Bridezillas will make its big return early next year to the national female network WE. The reboot, which will be distributed by DCD Rights (the distribution arm of DCD Media Plc), is set to premier 10 new hour-long episodes in 2018. In addition to Bridezillas, DCD Rights also sold the format for Penn & Teller: Fool Us (a 1/17 Productions & September Films format) in the United States to the CW Network for which a 3rd season is currently enjoying a successful run. We could see now forecasts.
ECO Animal Health Group (LON:EAH) 667.5p £437.21m
Subsidiary ECO Animal Health Limited (ECO) has received a marketing authorisation from the General Directorate of Food and Control of the Ministry of Food, Agriculture and Livestock of Turkey for the use of Aivlosin® 625 mg/g water soluble granules in chickens laying eggs for human consumption.
This approval allows ECO to start selling Aivlosin® in Turkey for the medication of drinking water for the treatment of infections caused by Mycoplasma in poultry laying eggs for human consumption, with a zero day drug withdrawal period for eggs.
ECO has begun the process of submitting the EU approved Aivlosin® regulatory files for the treatment of layers in numerous other key egg producing markets.
Greatland Gold (LON:GGP) 0.535 £11.2m
The precious and base metals exploration and development company, announced that a Mobile Metal Ion surface geochemistry survey has begun at Ernest Giles East. In addition, a ground gravity survey across Ernest Giles East is expected to commence within the next few weeks. Results of the exploration programme are expected to be disclosed in September 2017. Greatland's technical team has begun a 3.2 kilometre by 400 metre spaced MMI survey, and the Company expects to commence a 1.6 kilometre by 200 metre spaced gravity survey across the same area within the next few weeks; Results from these surveys will be used to establish gold exploration targets on these new licences for follow up work and drilling.
Getech Group (LON:GTC) 28.25p £10.6m
New agreement to provide advisory and technical support services to the Petroleum Directorate of Sierra Leone through its wholly owned subsidiary, ERCL. The mission of the Petroleum Directorate is to facilitate the exploration and development of Sierra Leone's petroleum resources for the long-term benefit of its people, through the development of regulatory guidelines and monitoring contract compliance, having due regard for the economy, the environment, safety, technology, as well as balancing the interests of the nation and investor. ERCL Limited, a Getech Group company, has been working with the Petroleum Directorate since 2016, providing a long-term counterpart training programme for the Directorate's technical team in Freetown, with initial funding from the World Bank's EITAP programme. We could see no forecasts.
Fshing Republic (LON:FISH) 33.5p £12.68m
The fishing tackle retailer announced the opening of its sixth 'destination' store since January 2017. Located in Gloucester the new store, which opened on 12 August 2017, expands Fishing Republic's presence in the West of England. The 6,000 sq ft store follows the Company's expansion into East Anglia and Essex, with new store openings in Kings Lynn and Clavering Lakes in recent months. An additional store opening, in Huntingdon, Cambridgeshire, is planned for the end of August and will increase the Company's store network to 19. We could see no forecasts.
Anglo Asian Mining (LON:AAZ) 24.5p £27.87m
Mineral Resource and Mineral Reserves estimated in accordance with the JORC (2012) code for the Ugur gold deposit ("Ugur") located at the Company's Gedabek licence area ("Gedabek") in Western Azerbaijan. The resource estimate, which has exceeded the Company's initial expectations, will provide significant upside to the current production from Gedabek. Ugur is on track to commence production in September 2017. Total Mineral Resource of 199,000 ounces of gold and 1,049,000 ounces of silver
· Measured plus Indicated Mineral Resource of 172,000 ounces of gold and 884,000 ounces of silver
· Proven plus Probable Reserves of 147,000 ounces of gold and 808,000 ounces of silver
· Commencement of processing ahead of schedule with first production planned in September 2017
Watkin Jones (LON:WJG) 196p £502.88m
The UK developer and constructor of multi occupancy property assets, with a focus on the student accommodation and Build to Rent sectors, announced that the Group has secured planning consent for a further Build to Rent ('BTR') development at Bath Lane in Leicester. The significant 322 unit site will consist of 174 one bed units, 137 two bed units and 11 three bed units. The Group expects to commence work on the site in FY 2018 with a phased completion anticipated during FY 2019 - FY 2020.
As reported on the 1 June, the BTR pipeline continues to grow and there are now six schemes currently targeted for delivery over the period FY 2019 - 2021, with a number of planning applications and other site acquisition opportunities in negotiation. FYSep17E rev £282/5m, PBT £42.67m. Yield c.3.4%.
Savannah Resources (LON:SAV) 5.12p £28.68m
The resource development company, has commenced construction of the pilot plant for its bulk metallurgical test work programme at the Mutamba Project, Mozambique. Construction of a 20 tonne per hour pilot plant has commenced at the Mutamba Mineral Sands Project;
· Pilot plant will produce bulk samples of concentrate for metallurgical and product test work;
· Mozambique based AML, an experienced mineral sands engineering company, has been appointed to undertake the work; and
· Construction and commissioning is expected to be completed by the end of 2017.
Filtronic (LON:FTC) 12.375p £26.84m
The designer and manufacturer of microwave electronics products for the wireless telecoms infrastructure market and adjacent markets, announced that its Filtronic Broadband business has secured a second multi-year supply agreement with a major European defence equipment manufacturer for the supply of specialist high frequency transmit and receive modules for a defence related aerospace application. The three-year agreement is expected to generate revenues totalling approximately £4.8 million. Production of the modules will take place at our certified highly automated manufacturing facility in Sedgefield, UK and is expected to commence in H1 FY2018. “The agreement provides for additional volumes should our customer secure follow-on project wins with its end-customers.” FYMay18E rev £37.9m and £2.76m PBT.
Lightwave RF (LON:LWRF) 25.5p £9.11m
The smart home solutions provider, announced that its next generation Apple HomeKit certified product range, for controlling smart devices with iOS apps and Siri voice commands, will be released on 3 October 2017.
LightwaveRF's next generation Apple HomeKit range will be on sale in Apple retail stores in the UK and the UAE, online via apple.com and at other selected retail outlets. There will be an extensive marketing campaign to publicise the new range to both current and potential new users.