This week’s biggest ASX listing has seen a last-minute resizing, with essential infrastructure services provider Ventia (ASX: VNT) downsizing the amount it has been looking to raise, while also slashing its IPO price.

Elsewhere, while not the biggest float coming up this week in the US, renewable-powered bitcoin miner Iris Energy (NASDAQ: IREN) could find itself on the watchlists of local investors. Volatile bitcoin prices and an emphasis on harnessing renewable energy to power its assets are only part of the story, with the Sydney-based firm likely to be a talking point given its local connection to Australia.

 

Upcoming IPOs

Market Company Focus IPO size Expected debut
ASX Resilience Mining Mongolia (RM1) Copper and gold explorer $6m Nov 15
ASX Kalgoorlie Gold Mining (KAL) Gold explorer $12m Nov 17
ASX My Rewards International (MRI) Employee & consumer rewards, loyalty and engagement program  $7m Nov 17
ASX Parabellum Resources (PBL) Copper and gold explorer $5m Nov 18
ASX Tissue Repair (TRP) Advanced wound healing clinical stage biopharmaceutical firm $22m Nov 18
ASX Cadence Opportunities (CDO) Investment company $25m Nov 19
ASX Cooper Metals (CPM) Copper and gold explorer $4.8m Nov 19
ASX Ventia Services (VNT) Essential infrastructure services provider $438m Nov 19

 

US UserTesting (USER) Enterprise customer feedback platform US$227m Nov 17
US Iris Energy (IREN) Renewable-powered bitcoin miner US$215m Nov 17
US Braze (BRZE) Cross-channel customer engagement platform US$460m Nov 17
US Sweetgreen (SG) Salad restaurant chain US$300m Nov 18
US KinderCare (KC) Early childhood education and care US$503m Nov 18
US Sono Group (SEV) Solar-powered vehicle developer US$150m TBC
US Austin Gold (AUST) Gold explorer in Nevada US$15m TBC

*All dates are subject to change and should be treated as an indicative guide only

 

 

Future Listings

If there weren’t enough buy-now pay-later firms on the ASX then another is on the way, with Beforepay the latest to venture towards the local market. Although not expected to debut until after the Christmas break, the business, which advances one’s wages before they have been paid, is eyeing around $35 million via 10.2 million new shares priced at $3.41 each.

Meanwhile, the float of high-definition camera tech firm BirdDog is officially underway, with investors being briefed on the business. It hopes to raise $33 million from shares priced at $0.65 each, which follows a more than 300% increase in the company’s revenue last financial year.

Traffic management operator Avada is another name seeking $30 million in fresh funds via IPO, which will give it a market cap of slightly more than $70 million on debut. With operations principally across Queensland and NSW, management intends to use the IPO proceeds to formally tie-up the acquisitions that make up the company.

More commodity names are pitching for a listing on the ASX, with the last week seeing three junior explorers launch their IPOs. This includes Armada Metals, targeting up to $10 million to explore for nickel and copper in Gabon, natural gas player Black Mountain Energy, which has received an exemption to export natural gas out of WA, and base metals explorer American West Metals, which is looking to secure up to $15 million to pursue zinc and copper exploration across the US and Canada.

Prospective listings from the US remain low-key at this time, which comes after electric vehicle maker Rivian (NASDAQ: RIVN) stole the limelight last week and surged more than 60% on debut. Nonetheless, a couple of the companies with a float on the horizon include rugged apparel brand 5.11 ABR and insurance firm TypTap Insurance.

 

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