AIM
Fusion Antibodies—Belfast based contract research organisation providing services to biopharmaceutical and diagnostics companies that are involved in the development of antibodies for both therapeutic drug and diagnostic applications. Offer TBA. Due Mid Dec.
Sirius Petroleum—RTO. Becoming an operating company in the Ororo Field in Nigeria. Raising £7.2m/ Mkt Cap £35.6m. Due 19 Dec.
Bushveld Minerals—RTO of Bushveld Vametco and therefore 78.8% of Strategic Minerals Corporation, the intermediate holding company that owns a 75 per cent. interest in the Vametco Vanadium Mine.
Range Resources— oil and gas company listed on the ASX plans to admit to AIM on 13 Dec with market cap of £17.4m. Also acquiring Range Resources Drilling Services Limited, an oil services business based in Trinidad & Tobago with extensive drilling capabilities.
Eqtec—Company with access to a proprietary advanced gasification technology used in industrial size power plants to convert waste into synthetic gas to generate electricity. Raising £1.6m. Mkt Cap £8.7m. Due 21 Dec.
Volex VLX.L—The global provider of cable assemblies is proposing to move from the main market to AIM on 19 January. £71m market cap. FYMar18E rev £241.5m and £7.19m PBT
Belluscura— Provider of premium medical devices at value prices to address part of the global unmet need for affordable, premium quality medical devices. Raising £7.5m to £10m. Offer TBA. Due early Dec
Miriad Advertising—Global video advertising company incorporated in 2015 and is engaged in the development of native in-video advertising . 2016 rev £0.7m and £7.3m operating loss. Offer TBA. Expected 6 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.
Main Market Specialist Fund Segment
Sure Ventures –Raising up to £50m at £1. Focus on FinTech, IoT and Augmented/Virtual Reality. Due 8 Dec.
Main Market Standard Listing
Shefa Yamin minerals company focused on the exploration for precious stones in Northern Israel. Net Proceeds will be used to advance the Company's mining project. Offer TBA.
Main Market Premium Listing
Greensphere Capital -$500m raise. Aims to provide Shareholders with an attractive yield from a portfolio of sustainable infrastructure assets diversified by geographies and sectors and to realise long-term growth capital value. Due 20 Dec
Vivo Energy—The Africa-focused company, which operates around 1,800 Shell forecourts across 16 countries reported by City A.M. to be preparing for a London float next year
Aberdeen Standard European Logistics Income—Investment Trust targeting £250m raise. Investing in a high quality portfolio of European logistics assets. Due 15 Dec.
Tri-Pillar Infrastructure— Investing a broad range of infrastructure assets located predominantly in continental Europe and North America. Seeking £200m raise at 100p. Due 8 December.
Sabre Insurance Group—Private motor insurance underwriter, founded in 1982. Raising C.£206m to purchase outstanding preference shares. Generated gross written premiums in 2016. Due December. 220p to 240p. Mkt cap £550m to £600m.
Aviva Investors Secure Income REIT - Targeting £200m raise. Will invest in a diversified portfolio of high quality, long-lease commercial real estate assets located within the UK and leased to predominantly investment grade tenants. Due 8 Dec.
Breakfast buffet
Arix Bioscience (LON:ARIX) 180p £173m
The global healthcare and life science company supporting medical innovation, has led an oversubscribed $30m Series F financing round for Atox Bio. Atox Bio is a late stage clinical biotechnology company developing novel immune modulators for critically ill patients with severe infections including necrotising soft tissue infections (NSTI) and acute kidney injury (AKI). Atox Bio's lead therapeutic candidate, Reltecimod, is a novel peptide that modulates the body's immune response, lowering the risk of potential morbidities and mortality. Reltecimod received Orphan Drug status from the FDA and EMA as well as Fast Track designation. Atox Bio is conducting a Phase 3 clinical study of Reltecimod for patients with NSTIs, and will start a Phase 2 clinical study for AKIs in 2018.
Pennant International Group (LON:PEN) 75.5p £24.9m
“The supplier of integrated training and support solutions, products and services, principally to the defence, rail, aerospace and naval sectors and to Government Departments, is pleased to announce that it has entered into a teaming agreement with Capewell Aerial Systems LLC (a global provider of engineered products for aerial delivery, life support and tactical gear for military, law enforcement and humanitarian agencies worldwide).”
Pennant and Capewell have identified a number of opportunities to work together in North America and elsewhere to provide complementary products and services, enhancing end user experience and value, and on 29 November 2017, signed a teaming agreement which provides the framework to develop and implement these opportunities.” FYDec17E rev £16m, PBT £2.1m.
Ergomed (LON:ERGO) 191.5p £81.73m
The specialised pharmaceutical services and drug development company, today announces that its pharmacovigilance subsidiary PrimeVigilance will be organising and presenting at the International Society of Pharmacovigilance's Intelligent Automation in Pharmacovigilance seminar to be held at Biogen's headquarters in Cambridge, MA, from 4-5 December 2017.
"PrimeVigilance has consistently demonstrated growth which is in no small part due to our market-leading adoption of new techniques and technologies and we are at the forefront of robotic automation, the next leap forward in technology for our industry.” FYDec17E rev £48.6m, PBT £2.59m.
Provexis (LON:PXS) 0.6p £11.3m
“The business that develops, licenses and sells the proprietary, scientifically-proven Fruitflow® heart-health functional food ingredient, is delighted to announce the filing of a patent application relating to the use of Fruitflow® in protecting against the adverse effects of air pollution on the body's cardiovascular system.
Recent laboratory work has shown that Fruitflow can reduce the platelet activation caused by airborne particulate matter, such as that from diesel emissions, by approximately one third. The beneficial effects of this reduction can be observed in laboratory models representing healthy subjects as well as in models representing subjects with an underlying cardiovascular problem.” We could see no forecasts.
Rose Petroleum (LON:ROSE) 4.13p £4.65m
“The natural resources business, is pleased to announce that following the completion of the 3D seismic acquisition, as announced on 24 October 2017, the processing of the data acquired is now nearing completion and initial data provided by our processing consultants, 3D Imaging Technology, is of excellent quality. First pass interpretation of the structures within the Cane Creek unit are very encouraging. Multiple structures that are likely to contain natural fractures are visible and work will now focus on detailed mapping and reservoir characterisation to better define them and identify targets for drilling. The processing of the data is expected to be completed in one week and interpretation work will continue to define the drill targets within the Paradox Clastics. The interpretation process is expected to take around 5 to 8 weeks.” Drill permitting expected to commence thereafter.
Alliance Pharma (LON:APH) 58p £275m
Agreement to acquire the worldwide rights to Vamousse from TyraTech Inc for an initial consideration of $13.0m and deferred contingent consideration of up to $4.5m. This agreement is subject to the approval of TyraTech's shareholders and the purchase is expected to complete before 31 December 2017. The Vamousse assets comprise an innovative, pesticide-free range of consumer healthcare products for the prevention and treatment of human head lice. Vamousse was launched in the US and the UK in 2014 and has gained strong retail distribution in both territories. Net sales of Vamousse by TyraTech for the year ended 31 December 2016 were $6.6m with a gross profit of $4.6m and for the 6 months to 30 June 2017 net sales were $3.3m with a gross profit of $2.3m. FYDec17E rev £103.5m, PBT £24.8m. PE c.15x.
Versarien (LON:VRS) 60.5p £89.2m
The advanced materials engineering group, is pleased to announce that it has signed an agreement with a US headquartered global chemical supplier, which will allow to both companies to begin collaborating across a number of projects.
The Partner, a Fortune 100 company, will use Versarien's proprietary Nanene few layer graphene nano-platelets, along with other 2D products manufactured by Versarien, in different potential applications. Both groups will work together on research, development and testing of compounded materials, with the objective of replacing incumbent additives across different chemical variants to improve material performance.” We could see no forecasts.
BMR Group (LON:BMR) 1.9p £4.5m
“The Board notes the announcement by Galileo Resources PLC this morning concerning the Star Zinc project.
The Board of BMR is pleased to confirm that, following the payment by BMR to Bushbuck Resources Limited of $0.3m, in accordance with the agreement summarised in the announcement of 5 September 2017, the Republic of Zambia Ministry Mines and Minerals Development confirmed on 1 December 2017 receipt of the request by Bushbuck to transfer the Star Zinc licence (19653-HQ-LEL) to Enviro Processing Limited, a subsidiary of BMR.”
Castleton Technology (LON:CTP) 63.5p £49.98m
Acquisition of Kinetic Information Systems Pty Ltd, the leading provider of software solutions to the Community Housing sector in Australia, for an initial cash consideration of AU$2.0m and deferred cash payment of AU$0.5m. A further cash payment of up to AU$0.5m may also be payable dependent on financial performance. Kinetic: Revenue of AU$2.3m (£1.3m) and normalised EBITDA of AU$0.6m (£0.3m) for the year to 30 June 2017 .
FYMar18E Rev £22.7m and £4.12m PBT. PE c.13x.