What’s cooking in the IPO kitchen?
AIM
Pelatro— The precision marketing software specialist. Due 19 Dec. Raising £3.8m new money plus £0.6m vendor sale. 62.5p. Mkt cap £15.2m. HYJun17 revenues increased to US$1.55m from US$0.2m and profit before tax increased to £1.0m from a small loss in the comparable period.
Fusion Antibodies— Sch1 from the 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 to raise £5.5m for the Company and £1.075m for selling shareholders at 82p with market cap of £18.1m. Due 18 Dec
Erris Resources plc—a mineral exploration and development company currently focused on two geographic areas. Offer TBC, expected 21 December 2017
CIP Merchant Capital—Closed ended investment Company. Sector focus oil & gas, healthcare, pharma, and real estate. Offer TBA. Due 21 Dec
Panthera Resources— The Company was established to act as a holding company for Indo Gold Limited, an unlisted Australian registered company. The Company aims to explore and develop gold assets in India and West Africa. Offer TBC, expected 20 Dec
Sumo Group—one of the UK's largest independent developers of AAA-rated video games providing both turnkey and co-development solutions, including initial concept and pre-production. Offer TBC. Due late Dec
Pelatro—provider of proprietary software solutions to enterprise-level customers for various aspects of precision marketing for use in B2C applications. Offer TBC, expected 19 December 2017
Fusion Antibodies—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. Raising £5.5m at 82p plus £1.075mn vendor sale. £mkt cap £18.1m Due 18 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.
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
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 19 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 22 Dec.
Tufton Oceanic Assets - intends to invest in a diversified portfolio of secondhand commercial sea-going vessels . Aiming to raise over $100m. Due 20 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. Due 18 Dec.
Main Market Premium Listing
GEMS Education—report by Reuters that the private schools group is seeking a $4.5bn to $5bn London float in 2018. FYAug17 rev $926.2m and adjusted EBITDA $261.6m.
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.
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Sareum Holdings* (LON:SAR) 0.9p £24.7m
AGM Statement from the specialist cancer drug discovery and development business. Reporting on a significant year of progress incluing the Chk 1 licensing agreement with Sierra Onccology, “ an important validation of our business model, which is based on expertise in small molecule drug design, and early development of novel drug candidates that offer attractive licensing opportunities for potential partners. “ This helped to boost year end (June) cash balances to £2.3m. Raised a further £700k in Novemberenabling increased investment to advance the TYK2 and Aurora+FLT3 programmes into preclinical and clinical studies, respectively, and providing sufficient working capital to take the Company beyond the two key data reports on SRA737 that Sierra Oncology has signalled for 2018., the first of which is an R&D Day due late February 2018.
Tribal Group (LON:TRB) 87p £172.5m
FYDec17 trading update from the provider of software and services to the international education markets. Following positive trading momentum, the Board anticipates that Group revenues will be slightly ahead of expectations and the financial performance of the Group will be materially ahead. The outperformance has been driven by continued and effective cost control and a balanced improvement across all lines of business. The new efficient Group operating model and organisational structure introduced in 2016 is working effectively. FYDec17E rev £82.8m and PBT of £6.99m.
Europa Oil & Gas (LON:EOG) 5.56p £17.7m
AGM Statement form the UK and Ireland-focussed oil and gas exploration and production company . “2017 was a record year for Europa in terms of corporate activity. The Company agreed no fewer than seven transactions for the financial year ending 31 July 2017, all of which are in line with our strategy to advance our asset base towards value trigger events such as drilling, whilst managing the associated risks. The above number of deals does not tell the whole story. We remain in active discussions with potential partners for several other licences, most notably our industry leading acreage offshore Ireland, and I am confident that the strong momentum behind our deal flow will be maintained, as we focus on proving up the billions of barrels of prospective resources we have identified across our licences.”
Advanced Medical Solutions (LON:AMS) 333.25p £715.9m
FYDec17 trading update from the surgical and advanced wound care specialist company. “The Group continues to make good progress and the Board expects revenue and profitability to be in line with current market expectations that include the positive impact from the recent Organogenesis licensing deal.”
Chris Meredith, Chief Executive Officer of AMS, said: "The Group continues to deliver strong organic growth supported by our Research and Development activities that provide both product innovation and intellectual property. AMS is well positioned to continue on its growth trajectory." FYDec17E rev £93.64m and £25.3m PBT. Yield c. 0.4%.
Corero Networks (LON:CNS) 7.25p £21.69m
The ‘network security company, is pleased to announce that its SmartWall® Threat Defense System ("SmartWall") technology has been selected to power a new 'DDoS Mitigation' service which is being launched by a leading North American regional Internet service provider ("the Provider").
Tp Group (LON:TPG.) 6.13p £46.46m
“The specialist services and engineering group, is pleased to announce that it has been awarded a £6.9m contract to supply equipment to a major UK defence contractor.
The contract, which commences immediately, is part of a critical long-term defence programme and is expected to be completed over the next two years by the Company's engineering team.”
"The scale and importance of such a contract also improves production visibility at our facilities, in addition to continuing the positive trading momentum currently being experienced across the Group."
FYDec17E rev £28.94m and PBT of £1.2m.
This $300,000 competitor displacement order follows a successful proof-of-concept trial which saw the advanced capabilities of the SmartWall solution recognised in comparison to the Provider's existing technology provider.’
FYDec17E rev £8.9m and pre-tax loss of £5.2m.
Collagen Solutions (LON:COS.) 2.88p £9.33m
The global supplier, developer and manufacturer of medical grade collagen and tissue components for use in regenerative medicine applications including orthopaedics, dental, wounds, and cardiovascular, is appointing Hilary Spence as CFO. Hilary takes over from Gill Black who has decided to step down as CFO and from the Board for family reasons. Gill will remain with the Company. Hilary has over 30 years' commercial experience. Hilary has worked with a broad range of companies from large corporates including Heineken, Vodafone, Motorola and Premier Foods and smaller more entrepreneurial businesses. Most recently Hilary was Interim CFO at the private equity funded Powerleague. FYMar18E rev £4.3m and pre-tax loss of £1.74m.
Scancell (LON:SCLP) 14.5p £45.25m
The “developer of novel immunotherapies for the treatment of cancer, and Cancer Research UK, the world's leading cancer charity dedicated to saving lives through research, are pleased to announce that they have entered into a Clinical Development Partnership to develop Scancell's ImmunoBody® vaccine, SCIB2, for the treatment of patients with solid tumours, including non-small cell lung cancer (NSCLC).” Cancer Research UK will fund and sponsor a UK-based Phase 1/2 clinical trial of SCIB2 in combination with a checkpoint inhibitor in patients with solid tumours, focusing on NSCLC in the first instance.
Synairgen (LON:SNG.) 14.42p £13.7m
The respiratory drug discovery and development company, today announces an update to its collaboration agreement with Pharmaxis and the Lysyl Oxidase type 2 (LOXL2) programme. Pharmaxis will take on full operational responsibilities for the programme, including the ongoing Phase I trial of the LOXL2 inhibitor PXS-5382. As a result of the combined work in the collaboration, Pharmaxis is concurrently developing a second LOXL2 inhibitor PXS-5338 (also in Phase I) which will expand partnering opportunities across multiple fibrotic conditions. The revised agreement fixes Synairgen's interest across all fibrotic indications at circa 17% of all partnering proceeds.
Lightwave RF (LON:LWRF) 16.5p £11.8m
FYSep17 results from the smart home solutions provi¬der. Revenue of £3.03m (201¬6: £1.44m);
· Gross profit £1.08m(2016: £0.47m);
· Gross margin 35.5% (2016: 32.5%);
· Loss before and after t-axation £0.85m (2016: £0.8¬4m);
Post year end fundrai-sing of £4.9m net of exp-enses, strengthening th-e pro forma unaudited n-et assets to £6.13m;
· Distributor order bo-ok exceeded £700,000 at current exchange rates as of 30 November 2017 month end.
We could see no forecasts.