Escrow Watch: Heat wave? 1.5bn escrowed ASX shares are going for a dip
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Want to know when shares are coming out of escrow? We’ve been keeping tabs, so you don’t have to.
Every two weeks, Stockhead takes a look at the small cap companies who are releasing shares that have been locked away in escrow.
Escrow refers to shares that are held by early investors or directions restrained from selling for a year or two. The release of escrowed shares can have a big impact on stock price, because a sudden influx of stock onto the market can depress the shares you own.
Firstly, digital marketer engage:BDR (ASX:EN1) has issued a correction to a previous announcement that it had 147 million shares coming out of escrow.
It says that number should have been 73 million, half the total. It assured investors none of the shares were traded or disposed of.
“The company has arranged for trading locks to be re-imposed on 73,464,065 fully paid ordinary shares,” it said. The escrow period will now expire on December 14 this year, two years on from the company’s listing.
Hylea Metals (ASX:HCO) has a clean 1 billion shares, or 36 per cent of its total, being released on February 2.
They were originally issued as part of the settlement of the acquisition of Providence Metals.
Queensland apartment builder Velocity Property (ASX:VP7) has a whopping 66 per cent of its total, or 239 million, shares coming out of escrow on February 7, the day it celebrates two years on the ASX.
Both Nickel Mines (ASX:NIC) and music authentication tech company Jaxsta (ASX:JXT) are releasing shares from escrow in tranches over the coming week.
Tymlez (ASX:TYM) has just 0.08 per cent of its total being released, or 98,183 shares, on January 30. They were originally held by investors who climbed in before its IPO.
Here’s a list of ASX stocks that have signalled escrow releases in the next fortnight:
Scroll or swipe to full reveal table. Click headings to sort
|ASX code||Company||Date released||Escrowed shares||% of all shares|
|IGE||Integrated Green Energy Solutions||7-Feb||94,283,320||24%|