As the US IPO pipeline currently builds amid the seasonal lull in new listings, attention will shift to three upcoming floats that are locked in for the ASX this week.
Clarity Pharmaceuticals (ASX: CU6) is the most high-profile listing on the horizon, with the radiopharmaceutical company set to debut Wednesday. Founded in 2010, and with as many as five clinical trials currently underway, the company is hoping to develop a series of next-generation theranostic products using copper radioisotopes for the diagnosis and treatment of a range of conditions, including various forms of cancer. Clarity will come to market with a value of nearly $360 million.
The other names on this week’s watch-list include two junior explorers. Kuniko (ASX: KNI) is a spin-off born out of high-flying Vulcan Energy Resources (ASX: VUL), with the company looking to apply a zero carbon focus to its exploration for copper, nickel and cobalt across projects in Norway. Culpeo Minerals (ASX: CPO) will also have an international focus, with the explorer focused on tenements in the number one copper-producing nation, Chile.
|Market||Company||Focus||IPO size||Expected debut|
|ASX||Kuniko (KNI)||Copper, nickel and cobalt explorer||$7.89m||August 24|
|ASX||Culpeo Minerals (CPO)||Copper explorer||$6m||August 24|
|ASX||Clarity Pharmaceuticals (CU6)||Radiopharmaceutical theranostic developer||$92m||August 25|
*All dates are subject to change and should be treated as an indicative guide only
Several other junior explorers are making efforts to list on the ASX in the coming weeks, including copper explorer Recharge Metals, which is raising $5 million at $0.20 per share, as well as Resilience Mining and Alvo Minerals.
Recharge Metals holds tenements in the Hyden and Mueller Ranges, as well as at Brandy Hill, which is south of the gold-copper mine operated by Silver Lake Resources (ASX: SLR). Meanwhile, Alvo Minerals is a junior explorer in the copper and zinc space, eyeing up to $10 million for its projects across Brazil, and Resilience Mining is targeting $6 million in fresh capital to explore land in Mongolia that it believes is prospective for copper and gold.
Elsewhere, telecoms software provider ActivePort is currently in the middle of its IPO raise, having blitzed through the minimum $10 million subscription and now targeting $15 million. The company’s software is used for centralised management of data networks, with funds from the IPO set to be used to expand overseas.
While no new IPOs are scheduled in the US over the coming days, a host of new filings were submitted last week for upcoming listings. Leading the way is tech consultancy business Thoughtworks (TWKS), which plans to raise up to US$500 million.
A number of businesses are raising in the vicinity of US$100 million, including Swiss sports data and betting company Sportradar Group (SRAD), surgical robotics developer PROCEPT BioRobotics (PRCT), human resource platform iCIMS Holding (TLNT), oncology biotech Tyra Biosciences (TYRA), coffee chain Dutch Bros (BROS), and health care intelligence platform Definitive Healthcare (DH). One Australian firm is also looking to get in on the action, with drug developer Incannex Healthcare (IXHL) unveiling plans to raise US$27 million.
Be sure to keep an eye out for our end-of-week bulletin covering all the major results among new ASX and US IPOs.
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