What’s cooking in the IPO kitchen?
AIM Avingtrans (LON:AVG) Sch1 on its Reverse Takeover of Hayward Tyler (HAYT). Combined market cap of c.£75m.
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 201
Main Market Standard Listing
Myanmar Strategic Holdings—Intention to float from the independent developer and operator of consumer-focused businesses in Myanmar, one of the fastest growing economies in the world. Expected Mkt Cap $22.7m at $10 per share. No details on funds to be raised. Expected late August. Main Market Premium Listing Hipgno
Breakfast buffet
Jackpot Joy (LON:JPJ) 675p £499.85m
Interim results to 30 June for the largest online bingo-led operator in the world. HY Highlights showed revenue growth of 12% year on year on a like for like constant currency basis to £146.6m. Adjusted EBITDA increased 19% year on year on a like for like constant currency basis to £59.2m. Adjusted net income flat year on year at £42.6m. “We continue to expect robust top-line growth through H2. As previously flagged, there will be an impact on profitability in the second half from the introduction of UK point-of-consumption tax on bonuses scheduled to commence in August 2017. Likewise, and also as previously highlighted, marketing spend will be weighted towards the second half of the financial year.” FYDec17E rev £293.86m and PBT £71.66m.
APQ Global (LON:APQ) 103p £80.4m
Book value report from the one of the fastest growing economies in the world.
“The Company hereby announces that as at the close of business on 31 July 2017, the unaudited book value per Ordinary Share was 95.78 pence. Pursuant to the announcement made on 17 July 2017 in relation to the dividend of 1.5 pence per share to be paid on 18 August 2017, the Ex-Dividend date was 27 July 2017.”
Thalassa Holdings (LON:THAL) 78.5p £16.98m
Agreed preliminary terms and executed letters of intent with the interested third party for the acquisition of 100% of WGP Group Ltd and subsidiaries ("WGP") and an investment in Autonomous Robotics Ltd ("ARL"). The proposed consideration to acquire WGP of up to $30 million (before expenses) consists of an upfront payment of $20 million and a further potential $10 million performance based earn-out. The third party also proposes to invest $2 million to acquire a 20% equity state in GO Science Group Ltd, the parent of ARL, together with a 2-year option to purchase the same number of shares at the same price. The interested party brings substantial node manufacturing and deployment and recovery experience to the table, which are core components of ARL's flying node system project.
Marlowe (LON:MRL) 380p £130.69m
The support services group focused on acquiring and developing companies that provide critical asset maintenance services, announces that it has acquired The Philton Group ("Philton"), a provider of fire protection services based in Watford, Hertfordshire.
Philton provides a portfolio of fire protection services, including the installation, service and maintenance of fire detection and fire suppression systems.
Philton is being purchased for a total enterprise value of £0.2 million. For the 12 months ended 30 April 2016, Philton generated revenues of £1.2 million and profit before tax of £0.1 million.
FYMar18E rev £71.5m PBT £5.2m. Yield c.2%.
H&T Group (LON:HAT) 284p £105.6m
Interim results for the six months ended 30 June 2017. Profit before tax up 62.2% to £6.0m (H1 2016: £3.7m). Basic EPS of 13.07p (H1 2016: 7.99p). Gross pledge book increased by 10.8% to £43.2m. Personal Loan book increased 87.3% to £11.8m. Net debt increased to £11.5m (30 June 2016: £6.9m). Interim dividend of 4.3p (2016 interim: 3.9p).
The demand for small-sum, short-term cash loans remains strong. The group has made good progress in the delivery of our strategy to expand the personal loans product and enhance our online capability. “We are confident that our range of services, our online and offline distribution and our high-quality people provide an excellent platform to serve our marketplace.” Current trading is in line with management's expectations. FYDec17E rev £93.75m, PE c.13x, yield c.3.6%.
CyanConnode Holdings(LON:CYAN) 0.17p £29.46m
The specialist in narrowband radio mesh networks, announced receipt of a $10m purchase order extension from its specialist in energy management systems customer for a smart metering contract in Bangladesh, South Asia. This new order more than doubles the accumulated orders from the customer to date to $19m. This latest extension for CyanConnode's Advanced Metering Infrastructure ("AMI") solution is for an additional 300,000 units, bringing the total order size to date to 550,000 units. As a result, the order book, representing the value of purchase orders received but not yet delivered, has grown significantly from £13 million at the beginning of the calendar year to £28 million today, which is in addition to the expected £25 million of software licence and support fees from the UK smart metering contract. FYDec18E revenue £9.99m and £7.3m loss.
Restore (LON:RST) 484.5p £546.25m
“The UK office services provider, today announces the acquisition of Baxter Confidential Limited ("Baxter"), a secure shredding and archiving business based in Winchester, Hampshire.
For the 12 months ended 30 April 2017, Baxter's secure shredding and archiving activities generated revenues of £0.8 million. The acquisition was funded from Restore's existing bank facilities.”
FYDec17E rev £169.2m and PBT £29.95m.
Ingenta (LON:ING) 180p £30.46m
The software and service provider to the publishing and media industry, announced a trading update for the period ended 30 June 2017. The Group's financial performance for the first half of the year has been in line with the Board's expectations. The Company has continued to see positive progress in terms of revenues and margins. Revenues for the six months ended 30 June 2017 were £7.7m and Earnings Before Interest, Tax, Depreciation and Amortisation were £0.7m. The cash balance was £1.3m at period end.
“The second half of the year has started well and a key new advertising contract has been signed which will broaden our reach into new global territories.” Also announced that a leading consumer magazine publisher in Italy has signed a 5 year contract for Ingenta Advertising. FYDec17E rev £17.3m and PBT £1.2m.
The specialist in supercapacitors, is pleased to announce that it has received its first large order for mass produced Thinline supercapacitors. The order, received from a US customer, is the first high-volume order received by the Company for an 'Internet of Things' (IoT) wearable technology consumer device for the fitness and health markets and represents CAP-XX's single largest order for Thinline. The customer will distribute the product to large OEM manufacturers in addition to performing direct sales. The initial US$0.4m order is for delivery of units commencing in late 2017 and continuing into early 2018. Mass production by the customer of its product is scheduled to commence in November 2017, with the first sales to consumers targeted for early 2018. The Directors of CAP-XX anticipate securing a follow-on order for in excess of US$1.0m in the first half of 2018. We could see no forecasts.