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AIM:
Total number of AIM Companies (Incl Susp):
954*
Total number of AIM Companies trading:
907*
*as at close of business 25 October 2017
Standard List** of Main Market:
Total number of Standard List Companies
(Incl Susp):
142*
Total number of Standard List Companies trading:
129*
*as at close of business 25 October 2017
NEX Growth Market:
Total number of NEX Growth Market Companies (Incl Susp):
84*
Total number of NEX Growth Market Companies trading:
79*
*as at close of business 25 October 2017
*A corporate client of Hybridan LLP
** Standard Listing as defined by Hybridan LLP to be a business with strictly operational activity
Dish of the day Startup Giants is a UK-based investment vehicle, which will invest in technology start-ups at the concept stage. Raising £752,700 at £1. Market cap £1m. (AQSE:SUG). Novacyt — (AIM:NCYT) An international diagnostics group, generating revenues from the sale of clinical products used in oncology, microbiology, haematology and serology testing. Offer to raise £8.8m at 59.38p with a mkt cap of £22.4m. 2016 revenue €11.1m and €2.3m EBITDA loss. Contango Hldgs - Main Market Standard List (CGO.L) - Cash shell formed to acquire a controlling interest in a company or business in the natural resources sector . Raised £1m at 3p. Market cap £1,225m. Off the menu Norsk Hydro cancellation of standard listing. Retains its Oslo quote.
Dish of the day Startup Giants is a UK-based investment vehicle, which will invest in technology start-ups at the concept stage. Raising £752,700 at £1. Market cap £1m. (AQSE:SUG). Novacyt — (AIM:NCYT) An international diagnostics group, generating revenues from the sale of clinical products used in oncology, microbiology, haematology and serology testing. Offer to raise £8.8m at 59.38p with a mkt cap of £22.4m. 2016 revenue €11.1m and €2.3m EBITDA loss. Contango Hldgs - Main Market Standard List (CGO.L) - Cash shell formed to acquire a controlling interest in a company or business in the natural resources sector . Raised £1m at 3p. Market cap £1,225m. Off the menu Norsk Hydro cancellation of standard listing. Retains its Oslo quote.
Dish of the day Startup Giants is a UK-based investment vehicle, which will invest in technology start-ups at the concept stage. Raising £752,700 at £1. Market cap £1m. (AQSE:SUG). Novacyt — (AIM:NCYT) An international diagnostics group, generating revenues from the sale of clinical products used in oncology, microbiology, haematology and serology testing. Offer to raise £8.8m at 59.38p with a mkt cap of £22.4m. 2016 revenue €11.1m and €2.3m EBITDA loss. Contango Hldgs - Main Market Standard List (CGO.L) - Cash shell formed to acquire a controlling interest in a company or business in the natural resources sector . Raised £1m at 3p. Market cap £1,225m. Off the menu Norsk Hydro cancellation of standard listing. Retains its Oslo quote.
Dish of the day Startup Giants is a UK-based investment vehicle, which will invest in technology start-ups at the concept stage. Raising £752,700 at £1. Market cap £1m. (AQSE:SUG). Novacyt — (AIM:NCYT) An international diagnostics group, generating revenues from the sale of clinical products used in oncology, microbiology, haematology and serology testing. Offer to raise £8.8m at 59.38p with a mkt cap of £22.4m. 2016 revenue €11.1m and €2.3m EBITDA loss. Contango Hldgs - Main Market Standard List (CGO.L) - Cash shell formed to acquire a controlling interest in a company or business in the natural resources sector . Raised £1m at 3p. Market cap £1,225m. Off the menu Norsk Hydro cancellation of standard listing. Retains its Oslo quote.
What’s cooking in the IPO kitchen?
AIM
Ten Lifestyle Hldgs. Technology-enabled lifestyle and travel platform providing trusted concierge services to the world's wealthy. Net revenue increased from £20 million in the year ended 31 August 2015 to £33 million in the year ended 31 August 2017, a compound annual growth rate of 29%. Offer and date TBA.
AfriTin Mining—Demerger from Bushveld Minerals (BMN.L). Offer TBA. Due 6 Nov. The Uis Tin project (Namibia) is considered the flagship tin asset within the portfolio, as this was once the largest open cast tine mine of its kind in the world .
Footasylum Ltd—UK-based fashion retailer focusing on the branded footwear and apparel markets announced its intention to seek admission to AIM. Expected value between £130m and £150m. Due Nov 2017.
Central Asia Metals (CAML) -RTO of Lynx Resources. Anticipated market capitalisation at Admission: £404.8m. Raising £113m at 230p. Acquiring the SASA zinc-lead mine in Macedonia from Solway Industries. Due 15 Dec.
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.
Orogen plc, to be renamed Sosandar plc on Admission. Sosandar is an online womenswear brand specifically targeted at a generation of women who have graduated from younger online and high street brands, and are looking for affordable clothing with a premium, trend-led aesthetic. Offer to raise £5.3m with market cap of £16.1m, expected 2 November 2017
OG Graphite, brownfield development-stage graphite company focused on the reactivation of its wholly-owned Kearney natural flake graphite mine and mill located 280 km north of Toronto, Canada. Offer TBA, expected mid November .
Main Market Premium Listing
Arqiva Group— UK's pre-eminent national provider of television and radio broadcast infrastructure and a leading independent provider of communications infrastructure services. Revenue was £943.8 million for the year ended 30 June 2017 . Adj EBITDA £467m. V Raising c. £1.5bn primarily to deleverage. Due in November.
Cabot Credit Management -one of the largest credit management services providers in Europe and the market leader in the UK and Ireland with total 120-Month ERC of £2.2 billion. Raising c.£195m. Offer TBA. Due November.
ContourGlobal LP— contracted wholesale power generation businesses, with 69 thermal and renewable power generation assets in Europe, Latin America and Africa. In the year ended 31 December 2016 it generated $905.2 million of combined revenue and $440.4 million of Adjusted EBITDA. Raising c.$400m. Expected November.
M7 Multi-Let REIT—Intends to raise up to £300m at 100p. Aims to acquire and hold a portfolio of UK regional light industrial and regional office assets diversified by geography, asset type and tenants that is expected to generate stable income returns and, where appropriate, offer the potential to leverage and enhance returns through active asset management initiatives. Due 13 Nov.
Bakkavor Group - Provider of fresh prepared food intends to float in November. FY 16 Revenue: £1,763.6 million FY 16 Adjusted EBITDA: £146.4 million (13.7% CAGR FY 14-FY 16). Part vendor sale and primary raise of c. £100m. Price TBA.
Russia’s En+, owned by Russian aluminium tycoon Oleg Deripaska, has assets in metals and energy, including hydropower. reported to be seeking dual London and Moscow listing raising $1.5bn
TMF Group , which provides tax, admin and legal support services, reported to be seeking London IPO to raise c. £200m.
Breakfast buffet
Capital for Colleagues (AQSE:CFCP) 45p £6.9m
The investment vehicle focused on opportunities in the Employee Owned Business ('EOB') sector, is pleased to announce the establishment of a joint venture company which will allow the Company to focus exclusively on its core business of investing in EOBs. Castlefield Corporate Advisory Partners Limited ("CCAP"), which will assume responsibility for the non-investment EOB activities previously undertaken by Capital for Colleagues. In particular, CCAP will be responsible for educating businesses about the benefits of Employee Ownership (including succession planning), identifying potential investee companies for Capital for Colleagues and for advising those companies on the structure and presentation of their investment case to the Company. CFCP will have a 34% stake.
Mercia Technologies (LON:MERC) 31.44p £82.04m
“The national investment group focused on the funding and scaling of innovative technology businesses with high growth potential from the UK regions is pleased to announce that it has signed a partnership agreement with the University of Edinburgh ("UoE"); one of the world's Top 25 Universities (according to the Quacquarelli Symonds 'QS' World University Rankings). This latest non-exclusive partnership with the UoE provides access to Edinburgh Innovations, which has established 189 new spin-out/start-up businesses in the past five years. Mercia anticipates a significant number of new Scottish investment opportunities as part of the partnership, over the medium term. Mercia will establish a team of up to four people initially on the UoE campus and has the funds available to deploy specifically for opportunities developed at the UoE.”
Empyrean (LON:EME) 21.25p £84.79m
“The oil and gas development company with interests in China, Indonesia and the United States, is pleased to announce that it has been informed by Sacgasco Limited (ASX: SGC), the operator of the Dempsey 1-15 well in the Sacramento Basin, onshore California, that preparations for completing and flow-testing the Dempsey 1-15 well are continuing as planned. Safety testing of the equipment is on-going ahead of the perforation of the lowermost zones in the well for natural gas flow evaluation. Prior to this, a number of steps need to be taken including the cleaning out of the lower well bore; cement bond log run and evaluate for well bore protection integrity; and then the assembly and running of completion equipment and tubing conveyed perforating tools is required. Empyrean CEO Tom Kelly commented, "With significant gas shows observed whilst drilling we are eager for the completion of the Dempsey well.”
Randall & Quilter (LON:RQIH) 141.5p £178m
“Accredited Surety and Casualty Company, Inc. ("ASC"), a subsidiary of Randall & Quilter ("R&Q"), is pleased to announce its agreement with Forestry Insurance Company of the Southeast specializing in commercial general liability for niche logging operators in South Carolina and Georgia. ASC will not retain any portion of the business as it will be fully reinsured. We anticipate up to $5m annual gross written premium for this business. Accredited Surety and Casualty Company, Inc. is a Florida domiciled property and casualty insurance company. It is rated "A- Excellent" by A.M. Best. “ FYDec17E rev £169.2m and PBT £17.6m. PE c.7x and yield c.6%.
SolGold (LON:SOLG) 34.25p £519m
Update on the copper gold assay results for Holes 26-D1, and 28 and the progress of drilling at the Alpala copper gold porphyry deposit, the most advanced of several targets at Cascabel, the Company's 85% owned copper-gold porphyry project in Ecuador. Hole 26-D1 (Alpala Northwest) ended in significant mineralisation and is not closed at depth. Assay results includes :- 748.7m @ 0.85% CuEq (0.58% Cu, 0.43 g/t Au) from 914m (open at depth), incl and 512.7m @ 1.05% CuEq (0.70% Cu, 0.55 g/t Au) from 1150m (open at depth). Same for hole 28 which included 938.2m @ 0.82% CuEq (0.59% copper, 0.36 g/t gold) from 630m (open ended). “These holes bring the approximate Exploration Target at Alpala to an upper range of one billion tonnes at approximately 0.9% copper equivalent at a 0.3% copper equivalent cut-off. This is very encouraging ahead of the maiden MRE”
Lombard Risk Management (LON:LRM) 6.88p £28.54m
Thee global dedicated provider of integrated regulatory reporting and collateral management solutions, is supplying its flagship regulatory reporting platform, AgileREPORTER, to OneSavings Bank. The challenger bank has taken a 10-year licence for AgileREPORTER to enable it to deliver against its regulatory reporting strategy. AgileREPORTER allows OneSavings Bank to gather key management information and analytics around trends, variances for audits and approvals, and enables the bank to track and prove its compliance with all relevant PRA, FCA, BofE and EBA reporting requirements using Lombard Risk's end-to-end reporting solution.
FYMar18E rev £38.29m and £0.6m PBT rising to £43.49m and £3.77m respectively for 2019E.
Active Energy (LON:AEG) 2.33p £22.27m
The international biomass based renewable energy and forestry management and business, has completed an oversubscribed placing totalling £1.75m gross at a price of 2.1p per share. The net funds raised will be used to accelerate the international commercial roll out of its revolutionary CoalSwitch™ biomass fuel and for working capital. Active Energy, through Advanced Biomass Solutions Plc ('ABS'), continues to make significant progress in the commercialisation of CoalSwitch™. The Group recently received a huge commercial endorsement for CoalSwitch™ when ABS entered into an agreement with Lumino Capital LLC for the financing, development and operation of eight 20 to 30 tonnes per hour CoalSwitch™ plants across South East Asia. We could see no forecasts.
Phoenix Mining (LON:PGM) 3.88p £m
Further drill results from the recently completed 28 drill hole reverse circulation and diamond drill programme at the Empire Copper Mine in Idaho. Included: 6.1m @ 2.08% copper ('Cu'), 79.18 g/t silver ('Ag') and 2.48 g/t gold ('Au') (Cu equivalent grade 4.35%)
o 24.4m @ 1.06% Cu, 34.82 g/t Ag and 0.17 g/t Au (Cu equivalent grade 1.84%)
o 29.0m @ 0.88% Cu, 46.84 g/t Ag and 0.29 g/t Au (Cu equivalent grade 1.64%)
• The second of two diamond drill holes targeting the higher grade and deeper sulphide mineralisation is underway. The final depth of the first hole was 314m. Assay results for the two holes are expected in December 2017
Begbies Traynor (LON:BEG) 66.87p £67.3m
Ahead of Thursday's decision by the Monetary Policy Committee on whether or not to increase interest rates, new research from Begbies Traynor, independent insolvency firm, reveals that nearly half a million businesses across the UK are in a state of 'Significant' financial distress, even before the effects of a potential interest rate hike are felt. According to Begbies Traynor's Red Flag Alert research for Q3 2017, which monitors the financial health of UK companies, 448,011 businesses were experiencing 'Significant' levels of financial distress at the end of the quarter, up 27% compared to the same period last year (Q3 2016: 352,552); a worrying statistic that could increase still further should interest rates rise this week. FY Apr 18E rev £51.1m and £5.4m PBT.
ThinkSMart (LON:TSL) 8.5p £8.44m
Update from the provider in the UK of retail point-of-sale finance for businesses. ‘Significant progress on the execution of our new business growth and diversification strategy continues with the national launch of 'Flexible Leasing', a new innovative mobile phone proposition with Carphone Warehouse, together with the release of 'ClearPay' a new digital payment solution for retail consumers.’
“Early signs of adoption and uptake are encouraging. We expect this proposition to be a significant contributor to our volume and active customer base growth.” We could see no forecasts,
Head Chef:
Derren Nathan
0203 764 2344
derren.nathan@hybridan.com