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AIM:
Total number of AIM Companies (Incl Susp):
955*
Total number of AIM Companies trading:
908*
*as at close of business 2 November 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 2 November 2017
NEX Growth Market:
Total number of NEX Growth Market Companies (Incl Susp):
85*
Total number of NEX Growth Market Companies trading:
80*
*as at close of business 2 November 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 Bakkavor (premium) IPO cancelled. ‘The Board has taken the decision that proceeding with the transaction would not be in the best interests of the company, or its shareholders, given the current volatility in the IPO market. ‘ Arqiva (Premium) announces today that it will postpone its proposed initial public offering. The Board and Shareholders have decided that pursuing a listing in this period of IPO market uncertainty is not in the interests of the Company and its stakeholders, and will revisit the listing once IPO market conditions improve. Sosandar plc (SOS.L) (formerly known as Orogen plc), the online women's fashion retailer, announced admission to trading on AIM yesterday following the RTO of Thread 35 Ltd. The Company raised £5.3m at 15.1p with a market cap on admission of £16.1m Off the menu Imagination Technologies has left the main market (Premium) following a takeover.
Dish of the day Bakkavor (premium) IPO cancelled. ‘The Board has taken the decision that proceeding with the transaction would not be in the best interests of the company, or its shareholders, given the current volatility in the IPO market. ‘ Arqiva (Premium) announces today that it will postpone its proposed initial public offering. The Board and Shareholders have decided that pursuing a listing in this period of IPO market uncertainty is not in the interests of the Company and its stakeholders, and will revisit the listing once IPO market conditions improve. Sosandar plc (SOS.L) (formerly known as Orogen plc), the online women's fashion retailer, announced admission to trading on AIM yesterday following the RTO of Thread 35 Ltd. The Company raised £5.3m at 15.1p with a market cap on admission of £16.1m Off the menu Imagination Technologies has left the main market (Premium) following a takeover.
What’s cooking in the IPO kitchen?
NEX Exchange
Clean Invest Africa—Introduction due around 14 Nov. Vehicle established to identify investment opportunities and acquisitions in renewable and clean energy projects/companies or alternative technologies that are used in a socially and environmentally responsible way that will aid the development of the African continent,
AIM
Boku - Independent direct carrier billing company. Revenues were up 21% to US$10.2 million in HYJun17 . Q32017, revenues grew to US$6.5m, up by 44% . The Company also saw continued growth across all of its key metrics: user numbers, total payment and a positive adjusted EBITDA for the month of September 2017. Due 20 Nov. Offer TBA.
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.
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
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.
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
Magnolia Petroleum (LON:MAGP) 5.75p £1.51m
The US focused oil and gas exploration and production company updated on the Gilchrist 2016 1-36H well in Oklahoma in which Magnolia has a carried working interest through its agreement with Western Energy Development LLC. Based on highly encouraging results being seen from an offset well that has been drilled directly to the north of the Gilchrist Well and which is projected to produce over 250 MBO and 2.5 BCF, Magnolia and WED have elected to take their proportionate share of any interests in the lease that become available as a result of the non-participation of leaseholders in a forced pooling order. This is expected to see WED and Magnolia increase the combined 1.57% Working Interest in the spacing unit on which the Gilchrist Well is located and where additional increased density wells are expected to be drilled. Under the agreement with WED Magnolia is carried for 25% of the 1.57% WI in the Gilchrist Well at no cost.
Northamber (LON:NAR) 28.5p £8.03m
FYJun17 results from trade-only distributor of IT equipment in the UK “Despite advising positive and worthwhile progress at the time of the interim results in March and an improved second half, it is disappointing to advise overall results hampered by a slower transition than anticipated and a resultant slight 7.4% revenue loss for the year to 30 June 2017 of £57.3m versus £61.8m a year ago. “£1m loss before tax slightly down year on year. Cash of 35m. Divi flat at 10p. “Further newer activities launched over recent months, have started to deliver more purposeful results, but what can one say about future prospects when volatile uncertainties now prevail in almost every aspect of all our lives. Within the evolving business model, the Board can see opportunities to make a constructive difference in the short to medium term.” We could see no forecasts.
Ortac Resources (LON:OTC) 3p £7m
Casa Mining Ltd, in which Ortac holds an effective 45% economic stake, reports significant new gold assay results from the expansion and infill drill programme currently underway at the Akyanga gold deposit in the Democratic Republic of the Congo.
• Highest ever grade and intersected thickness drilled at the Akyanga Deposit - 24.75m @ 8.04 g/t Au from 200.75m, incl. 5m @ 22.63 g/t Au from 207.10m
• Drill results expected to extend the open pittable + 2g/t Au resource to the south
• Visible gold logged in hole currently being drilled
• Drill results validate the potential for Akyanga to become a +2Moz gold resource
Servoca (LON:SVCA) 22.5p £27.65m
FYSep17 update from the specialist recruitment solutions and outsourcing provider. It expects to report that its results for that period will be comfortably in line with market expectations.
The Company also announces the retirement of Glenn Swaby who has acted as Chief Financial Officer since March 2008. Glenn will be succeeded by Chris Hinton who has extensive public company and recruitment sector experience. Chris joins the Board with immediate effect and will work with Glenn to effect a smooth handover.
FYSep17E rev £79, and PBT £3.7m, Pec.10x. Yield c.1.8%.
Mercantile Ports & Logistics (LON:MPL) 9.38p £38.8m
Mercantile Ports & Logistics Limited (MPL) is pleased to announce that it has reached a key milestone as it develops its modern port and logistics facility in Mumbai, India. MPL can confirm that it has now driven the last of the 248 piles required for the 400 meters of jetty, which will enable 800 meters of quay length to be operated once deck slabs for the entire length are laid. The Company also reports that 160 meters of jetty deck slabs have now been fabricated and laid. After a stuttering end to the monsoon, the site is now dry and reclamation work is expected to recommence shortly after removal of revetment, which is in progress. In the meantime, the Company is pleased to report the achievement of the important piling milestone and the Company is working hard alongside its main contractor to enable the facility to commence operations by the end of the year.
H&T Group (LON:lHAT) 353.25p £131.7m
“H&T is pleased to announce that the strong trading performance of the first half of the year has been maintained. The gold price has also remained broadly in line with the first half which benefits the Group's pawnbroking scrap and gold purchasing segments.
As a result, we expect that our full year profit before tax will be above current market expectations.
John Nichols, chief executive, said: "We have delivered a strong trading performance during the second half in the key segments of Pawnbroking, Retail and Personal Loans. This is the result of several years investment in products, people and systems to address the new consumer and regulatory landscape.
"We have made good progress in developing our strategy and look to the future with confidence." “
FYDec17E rev £95.25m and PBT £11.45m.
URU Metals (LON:URU) 1.27p £9.95m
Results of the nickel leach test work programme on the Zebediela Nickel and PGE Project, in Limpopo, South Africa. Fresh material from the recent drilling programme was submitted for acid leach test work to assess the amenability of the Zebediela material to percolation leaching with respect to nickel recovery and acid consumption. Approximately 100 kg of the material was combined and all crushed to pass through 75 micron for iso-pH tests, agitated tank leach amenability tests and chemical head and solid residue assays. Chemical assays where performed by ICP-OES. The oxidative acidic leach test work resulted in a dissolution of 80% nickel after 26 days at a pH of 1.8 and the acid consumption reached 447 kg/t. This highlights the potential for acid leaching as a processing method that could save on both capital and operational costs.
Croma Security Solutions Group (LON:CSSG) 48p £8.12m
FYJun17 results from the total security services provider,
• Revenue growth to £22.06m an increase of 15.9%
• Gross margin: £4.03m an increase of 3.5%
• EBITDA £0.8m an increase of 35%
• Balance sheet net assets £10.30m
• Earnings per share 2.13p
• Trading in the current financial year appreciably ahead of last year
We could see no forecasts.