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Investment Solutions

Features

Investment Solutions

Features

IPO Watch: BirdDog Tech in focus, Reddit IPO in the works

Rene Anthony

Saturday, December 18, 2021

Saturday, December 18, 2021

The last batch of IPOs for 2021 largely come from the resources sector, but news of Reddit plan to pursue a stock market listing are likely to raise an eyebrow

The last batch of IPOs for 2021 largely come from the resources sector, but news of Reddit plan to pursue a stock market listing are likely to raise an eyebrow

The IPO class of 2021 comes to a close this week, with the last of this year debutants hitting the boards over the coming days.

In a year where IPOs have been dominated by junior resource explorers, it wouldn't be fitting if we didn't have any commodities floats planned. However, there are as many as seven resource IPOs on the cards this week, spanning base metals, battery metals and also oil and gas. 

Some of the names lining up this week include copper, gold, lithium and nickel explorer Infinity Mining (ASX: IMI), which has secured $10 million, plus Greentech Metals (ASX: GRE) and DMC Mining (ASX: DMM), which have both secured $5 million for copper and nickel exploration.For those eyeing a change of theme, BirdDog Technology (ASX: BDT), a developer and manufacturer of audio-visual and video technology, hits the boards today at 11am Sydney-time after securing $33 million at $0.65 per share. It is also the week biggest raising, with its high definition, 4K and pan-tilt-zoom cameras, and accompanying products and software, used by the likes of Apple, Microsoft and Formula 1.

Upcoming IPOs

Future Listings

Car importer Ateco has called in support to help it make its way to the ASX, appointing Goldman Sachs to help run early preparations for a potential listing in the first half of 2022. The company imports a wide variety of cars into the ANZ region, including Suzuki, LDV, Maserati, RAM and more. With operations also spanning to South Africa, Ateco has access to more than 130 dealers in its three markets.It been a while since we had a medicinal cannabis company list on the ASX, however, Dragonfly Biosciences is looking to buck that trend. Based in the UK, the company is eyeing $10 million from Australian investors for its cannabidiol-based supplements and lotions to give it a value of approximately $97 million.

Private equity giant TPG is pushing ahead with plans for a US IPO, submitting a filing with the SEC last week to pave the way for a stock market debut. The company, which has been an early investor in the likes of Airbnb and Uber and also runs its own SPAC platform, has seen assets under management hit record levels, which were last recorded at US$109 billion as at the end of September.

And finally, online forum Reddit has confidentially filed paperwork for an IPO. Although the company has yet to determine the structure of the offer, Reddit was recently valued at roughly US$10 billion at the end of August. The website has been at the centre of a large influx of new investors joining its stock market forums following this year GameStop saga, however, that has also raised its profile across other topics and brought in a wave of new advertisers. 

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