Variety is the key theme resonating across IPO markets this week, with a number of listings coming out of different sectors including tech software, financial services, real estate and resources, among others.
While Panther Metals’ (ASX: PNT) exposure to nickel and cobalt projects is in keeping with the tailwinds supporting battery development, copper explorers like Lavrotto Resources (ASX: LRV) and American West Metals (ASX: AW1) are also in focus as copper prices remain at elevated levels.
Software firm Rocketboots (ASX: ROC) comes to the ASX after completing a small-scale raise, but its BeeHive software solution taps into the machine learning and analytics thematics that a growing number of businesses now depend on for optimisation, efficiency and security issues.
Meanwhile, The Hydration Pharma Company (ASX: HPC) offers a different angle for investors looking at product-led businesses. The company had no troubles securing support for its hydration product and sometimes-dubbed hangover ‘cure’ Hydralyte, which is sold as tablets, powders and liquids. The US division of the company is being floated at a value just shy of $50 million, with $17 million of stock issued at $0.29 per share.
|Company||Focus||IPO size||Expected debut|
|ASX||Australian Bond Exchange (ABE)||OTC bond market service||$10.4m||Dec 6|
|ASX||Larvotto Resources (LRV)||Copper and gold explorer||$5m||Dec 6|
|ASX||Newmark Property REIT (NPR)||Hardware real estate trust||$128.3m||Dec 6|
|ASX||American West Metals (AW1)||Zinc, copper and indium explorer||$15m||Dec 7|
|ASX||RocketBoots (ROC)||Enterprise software firm leveraging machine learning||$4.25m||Dec 7|
|ASX||The Hydration Pharma Co (HPC)||Marketing and sales of Hydralyte in North America||$17m||Dec 9|
|ASX||Panther Metals (PNT)||Nickel, cobalt and gold explorer||$5m||Dec 10|
|US||Chicago Atlantic Real Estate (REFI)||Commercial mortgage REIT for cannabis industry||US$106m||Dec 8|
|US||Nu Holdings (NU)||Digital bank across Latin America||US$2.5b||Dec 9|
|US||HashiCorp (HCP)||Cloud infrastructure and data centre management||US$1.1b||Dec 9|
|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
Eyeing a listing just before Christmas, non-bank lender Qualitas is in the market to raise funds as part of its IPO efforts. The business is set to raise $335 million in funds for a value of more than $700 million, with the proceeds from the IPO intended to help the firm engage in sale-and-leaseback transactions with other businesses.
Also on a fast-tracked route to the ASX is Colombian copper explorer Andean Mining. The micro-cap stock has been valued at $16 million, including an expected $7 million in proceeds from the IPO. Andean Mining has already started initial drilling at its El Dovio project, with funds allocated towards the definition of a maiden resource next year.
Mining technology company SensOre has finally unveiled details for its own ASX float, with the business hoping to raise between $7 million and $12.5 million before listing next month. The offer will see shares priced at $0.85 a piece. SensOre provides technology that helps mining clients like BHP and Chalice Mining with their drilling activities by incorporating AI and big data to better understand drilling targets.
From the US, electric vehicle spin-off firm Phoenix Motor was the only name to make its IPO intentions clear last week. The company, which designs and manufactures electric drivetrains and vehicle electrification technologies, has filed to raise US$150 million. The business is an offshoot of US-listed micro-cap SPI Energy (NASDAQ: SPI), a renewable energy firm and provider of solar storage and EV solutions.
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