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What’s cooking in the IPO kitchen?

AIM

TruFin—holding company of an operating group comprising three growth-focused FinTech and banking businesses operating in three niche lending markets: supply chain finance, invoice finance and dynamic discounting. Offer TBC, expected late Feb

Polarean  - The medical drug-device combination companies operating in the high resolution medical imaging market. Offer TBC. Due 22 Feb

Block Energy—a  NEX Listed UK based oil exploration and production company whose main country of operation is the Republic of Georgia, looks to join AIM end of February 2018. Offer TBC

 

Main Market Specialist Funds

Life Settlement—closed-ended investment company whose principal activities will be to support and manage portfolios of whole and partial interests in life settlement policies issued by life insurance companies operating predominantly in the US.  Due 6 Mar.

 

Main Market Premium Listing

IntegraFin provides platform services to UK clients and their financial advisers through its award-winning platform, Transact. Due Mar 18. FYSep2017 PBT up 44% to £29.9m.

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.

CVC (Sky Bet) rumoured to be seeking £2.5bn plus float.

VC firm Augmentum rumoured to be seeking raise up to £125m.

   
Breakfast buffet

Physiomics* (LON:PYC) 8.35p £4.91m

The “provider of technology-based solutions to predict the effects of cancer treatment regimens for the biopharma industry, is delighted to announce that it has been awarded a contract by a further major (global top-10) pharmaceutical client.  The project, which has a value of approximately £70k, is expected to be completed during the Company's current financial year and involves the use of Physiomics' Virtual Tumour technology in a pre-clinical setting.”

Dr Jim Millen, CEO said: "We believe that the signing of agreements with three major pharmaceutical clients within the space of three months is a real sign of the confidence in our technology that is starting to build within the industry. Our aim now will be to develop longer-term relationships with these major companies and to secure further pre-clinical and clinical projects."

 

Ukrproduct Group (LON:UKR) 4.6p £1.88m

“Further to the announcement made on 07 February 2018, Ukrproduct is pleased to announce that it has drawn down UAH 32.3m under the terms of the loan agreement with PJSC "CREDITWEST BANK" in order to fully repay all amounts outstanding to OTP Bank. Accordingly, the Company has no outstanding liabilities to OTP Bank. The Loan is secured against certain real estate and property assets of the Company.

As a result of the abovementioned drawdown, there remains approximately UAH 32.7m available to the Company under the terms of the CreditWest Loan Agreement.”

UKR is one of the leading producer and distributors of high quality branded dairy products and beverages in Ukraine.

 

Scancell Holdings (LON:SCLP) 12.35p £38.2m

The “developer of novel immunotherapies for the treatment of cancer, notes that European Patent Office has announced its intention to grant Scancell's application for a European patent for its Moditope® immunotherapy platform.

This case is key to the protection of the Company's pipeline of Moditope® vaccines for the treatment of cancer and will provide commercial exclusivity in all major European territories including: Austria, Belgium, Switzerland, Germany, Denmark, Spain, Finland, France, United Kingdom, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Sweden and Turkey.  Counterparts to this patent have been filed in Australia, Brazil, Canada, China, Hong Kong, Japan, South Korea, South Africa and the US.”

 

Ten Entertainment Group (LON:TEG) 248p £161.2m

“Ten Entertainment Group, one of the UK's leading ten-pin bowling companies, today announces that it has acquired two further sites, continuing its acquisition strategy and bringing its estate to 42 sites.

The two sites, located in Chichester and Warrington, are geographically complementary to the existing estate and are existing ten-pin operations set within leisure parks.

TEG has a proven track record of integrating acquisitions through its 'Tenpinisation' strategy to allow a planned re-development of acquired sites, bringing the operations, systems and technology and customer experience, up to the high standards of the Company's wider estate. Both sites will benefit from significant further investment in the coming months.”

FYDec18E rev £78.19m and PBT £15.23. PE c.13x, yield c.4%

 

SCISYS (LON:SSY) 129.5p £37.94m

The “supplier of bespoke software systems, IT-based solutions, web and mobile application development and support services to the Media & Broadcast, Space, Government, Defence and Commercial sectors, is pleased to announce the renewal of its service contract to supply support and maintenance services for the BBC's enterprise audio broadcast technology.

SCISYS' Media & Broadcast division, which supplies the dira! Media Asset Management platform, a bespoke version of dira! used by the BBC to deliver its radio news and entertainment, has signed an enhanced service contract to continue supporting the BBC for a term of up to 10 years.

The premium dira! product, developed by SCISYS specifically for the BBC's requirements, is the cornerstone of the BBC's audio broadcast technology and has been deployed to National Radio, News, World Service, Nations and Local Radio stations as well as to Information & Archives.” FYDec18E rev £55.5m, PBT £4.4m.

 

7digital Group (LON:7DIG) 5p £20.5m

“The B2B digital music and radio services company, today issues a trading update for the year ended 31 Dec 2017.

Unaudited revenue for 2017 is expected to be up 52% at £17.3m (2016: £11.3m). The Company's contracted and billed revenues for the period were in fact £18.6m, with revenues from major new client MediaMarktSaturn ("MMS") at £6.5m. However, of this MMS revenue, £1.3m is to be recognised in Q1 2018 rather than in the 2017 financial period leading to reported revenue of £17.3m.

Losses at Adjusted LBITDA level are expected to be significantly reduced from the previous period and be better than market expectations.” FY2017E rev £19.1m and pre-tax loss of £2.9m.

 

Angus Energy (LON:ANGS) 6.95p £18.37m

The “conventional oil and gas production and development company, is pleased to announce it has successfully raised £2m (gross) by means of a private placement with institutional and private investors.” Priced at 6p, a discount of 27% to the closing mid-market price on 8 Feb 2018.

Net proceeds from the Placing will:

* contribute funding to the acquisition of a 25% interest in the Balcombe Licence per the Company's 22 Jan RNS.

* defray operational and associated costs related to the Partnership.

 

Plus 500 (LON:PLUS) 1083p £1,223m

“Plus500, a leading online service provider for customers to trade CFDs internationally, is pleased to announce that International Enterprise Singapore has granted Plus500SG Pte. Ltd a Commodity Broker's Licence ("CBL") in Singapore. The CBL  will supplement the Capital Markets Services Licence granted to Plus500SG by the Monetary Authority of Singapore in December 2017, thus allowing for Plus500SG to offer its customers a more diversified range of financial instruments. The CBL is effective immediately and is valid for one year.

Asaf Elimelech, Chief Executive of Plus500 said:

"The addition of this licence demonstrates the positive momentum we are achieving in growth globally, following the announcement of the new licence granted in South Africa earlier this week."

FYDec18E rev $316.7m and PBT of $183.45m.

 

NetScientific (LON:NSCI) 54.5p £37.63m

“NetScientific plc, the transatlantic healthcare IP commercialisation group, notes that its portfolio company, Vortex BioSciences, has announced a report published by Nature Scientific Reports. The peer reviewed report, titled "Evaluation of PD-L1 expression on vortex-isolated circulating tumour cells in metastatic lung cancer" describes the use of the Vortex's technology in capturing circulating tumour cells (CTCs), in combination with the use of a novel immunofluorescence assay, for measuring programmed cell death ligand 1 (PD-L1) expression on the surface of the CTCs from patients with metastatic non-small cell lung cancer (NSCLC).”

Savannah Petroleum (SAVP.L) 30.3p £247.5m

“Savannah is pleased to announce an update on average production volumes from the Seven Assets over the course of the November 2017 - Jan 2018 period, which have been provided by Seven Energy.”

“Uptime at the Uquo CPF and the Stubb Creek EPF has been 100% and 98% respectively over the three-month period.

Production levels at the Seven Assets in February have continued to strongly increase, with month to date average production being 25.7 kboepd gross and 20.7 kboepd net, largely driven by increased sales to the Calabar NIPP which are supported by a World Bank Partial Risk Guarantee.”

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