Our latest roundup covers news from August 18- 31, detailing upcoming ASX listings via IPO and RTO.
Consumer Discretionary and Staples
After some time out of the news since its cancelled IPO, Craveable Brands is tapping the debt market for $300m. The proceeds are part of a recap plan for the fast food retailer, with some of the funds likely to be returned to its private equity owner as a dividend.
Pet pharmaceutical business CannPal Animal Therapeutics will raise $6m. Investors in Zelda Therapeutics have been invited to apply as part of a priority offer. The special access comes as the two biotech businesses look into research sharing prospects. CannPal will focus on applications for medicinal cannabis to ease pain in pets. A listing is being touted as a way for the company to increase awareness and also drive its R&D initiatives.
Resources and Energy
An update was provided by P2P energy trader PowerLedger, with the prospective bitcoin IPO already raising $17m in less than 3 days of presale funding. With the public offer set to open next week, a further $15m is likely to be raised.
Utilities, Materials and Industrials
After news earlier in the month about GO2 People’s growth plans, the company posted softer revenue and a reverse in profits in FY17. Nonetheless, the labour hire and residential construction business is looking to its management and acquisitions for strength.
Telecoms and Information Technology
ASX aspirant SenSen is pursuing a backdoor listing, hoping to raise $4.5m. The video and AI SaaS analytics business has numerous clients on its books, including 13 councils and governments. One of its prominent services is automated parking inspection, which during trials saw marked improvements in potential revenue optimisation for councils.
Financials, Funds and Real Estate
Realtor aggregator LocalAgentFinder has hired the former CEO of LJ Hooker. At the same time, the company is remaining optimistic that Amazon’s impending entry into Australia could help open new channels for the business via “homeowner services”. An IPO has not been confirmed, however sources believe it is the most prominent path for growth.
Also in the property space, DIY property sale business PropertyNow has received backing from Yellow Brick Road. With low debt and a private equity round of funding ahead, the company is looking to fast-track growth and add to revenue. With this in mind, the company has its eyes set on a potential ASX listing.
In recent days, attention returned back to Magellan‘s new global stock LIC. The fund will include a mandated DRP once distributions exceed 4%, designed to even out investor returns
In the finance space, Netwealth indicated its funds under management have surpassed $15bn.
Some of the businesses that formally opened their books for an IPO or RTO include:
- Cloud based business productivity tool and app provider, GeoOp – $2m-$6m
- Wholesale and retail health products business, AuMake International – $4m-$6m (RTO via Augend)
- Security, safety and compliance software developer, Rightcrowd – $10m
- Registry operator, Registry Direct – $2m-$6m
- Education staffing and recruitment solutions platform, Schrole Group – $5.5M-$6m (RTO via Aquaint Capital)
- Waste plastics to fuel operator, Integrated Green Energy Solutions – $6.5M-$15m (RTO via Foy Group)
- Video analytics and AI business, SenSen Networks – $4.5m-$6.5m (RTO via Orpheus Energy)
- Microbial nano cellulose biotech firm, Nanollose – $5m
- Coal explorer, Lustrum Minerals – $5m
- Junior minerals explorer, Tando Resources – $4.5m
- Global equity trust, Magellan Global Trust – min $250m
Dual Track Sales
After Seven Group recently blocked TCG listing equipment hire business Coates, the company was back in focus after it released its earnings. With a valuation of close to $1.7bn, the two controlling stakeholders remain divided on their investment horizons. Meanwhile, a trade sale is still being explored as a quicker exit, although Seven favour a review in 12-18 months.
Following mounting pressure from investors and activist stakeholders, BHP announced it will exit shale operations. Although the divestment is likely to see a trade sale, an IPO has not been dismissed.
Perennially in the news, Lattice Energy revealed the rest of its prospective Board line-up should an IPO win out. Directors include Peter Wasow, Pip Dunphy and Mark Puzey.
Join IPO Society to receive invitations to participate in upcoming IPO opportunities, research and news.
The team at
The information contained on this website in no way reflects the opinions of IPO Society. It is provided for informational services only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. The information is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser. Detailed information may be needed to make an investment decision, for example: financial statements; a business plan; information about ownership of intellectual or industrial property; or expert opinions including valuations or auditors’ reports. The information contained on this website is not intended to be the only information on which an investment decision is made and is not a substitute for a disclosure document, product disclosure statement or any other notice that may be required under the Act, as the Act may apply to the investment.