Queensland-based agricultural biotech Terragen has made public its ambitions to join the ASX with the launch of a $20m IPO.

Terragen has developed and commercialised biological products using live microbes to address soil health and productivity of farm production animals.

It’s designed to reduce the reliance of farmers on chemical-based fertilisers, pesticides and antibiotics.

Terragen has two products on the market in Australia and New Zealand — soil conditioner Great Land and microbial feed supplement Mylo.

The company is also developing veterinary medicines Lactolin, a teat conditioner to maintain and improve the udders of lactating production animals, and Halo, an anti-inflammatory product to assist dairy cattle with mastitis and companion animals such as dogs with mobility impairments.

Under its IPO, which opened yesterday and closes November 21, Terragen is offering 80 million shares at 25c apiece.

The IPO is fully underwritten by Bell Potter Securities and Evans Dixon Corporate Advisory.

The cash raised will be used to further commercialise Terragen’s Great Land and Mylo products in Australia and New Zealand as well as further develop and market Mylo, Lactolin and Halo in the US and Europe.

Terragen is aiming to light up the local boards before Christmas, with listing pencilled in for December 11.

Investors can access the prospectus here.

 

Here’s a list of upcoming IPOs:

Scroll or swipe to reveal table. Click headings to sort

Company ASX Code Expected listing date Industry Issue price Fund raising
KKR Credit Income Fund KKC 21-Nov-19 Listed investment trust $2.50 $330m
VGI Partners Asian Investments Ltd VG8 13-Nov-19 Listed investment company $2.50 $1bn
360 Capital Digital Infrastructure Fund TDI 4-Nov-19 Digital infrastructure $2.00 $65m
Cronos Australia Limited CAU 7-Nov-19 Medicinal cannabis $0.50 $20m
Nemex Resources Limited NXR TBA Mineral exploration $0.20 $5m
Tartana Resources Limited TNA TBA Mining exploration $0.20 $6m
Macarthur Minerals Limited MIO 6-Dec-19 Mining exploration $0.25 $7.5m
Primewest PWG 8-Nov-19 Real estate funds management $1.00 $100m
Terragen Holdings Limited TGH 11-Dec-19 Agrigultural biotech $0.25 $20m
Latitude Financial Group Limited LFS TBA Digital payments $2-$2.25 $1.4bn

Meanwhile, about 74 per cent of the companies that have floated in 2019 are enjoying gains of between 2 per cent and 543 per cent.

Wireless internet provider Uniti Group (ASX:UWL) is still top of the list with a 543 per cent gain since listing in mid-February.

The company is followed by ‘buy now, pay later’ competitor Splitit (ASX:SPT), which has surged 398 per cent since its late January debut, and 3D bone implant printer Osteopore (ASX:OSX), which sits 373 per cent higher than when it listed in September.

Pot stock Ecofibre (ASX:EOF) is also still in the top five with a 242 per cent spike since late March.

New resources floats, however, are still struggling to gain traction with investors, with potash explorer Trigg Mining (ASX:TMG) sliding 55 per cent since it debuted at the start of October and copper-gold explorer Canterbury Resources (ASX:CBY) down 12 per cent since March.

But it’s US-based subscription sweets business Candy Club (ASX:CLB) at the bottom of the IPO performers with a 69 per cent drop.

Here’s a performance rundown of this year’s ASX entrants:

Scroll or swipe to reveal table. Click headings to sort

Listed date ASX Code Company Funds raised ($M) IPO Price Price Oct 22 % change
02/19/2019 CLB Candy Club Holdings Ltd 5.024 0.2 0.078 -61.0%
10/03/2019 TMG Trigg Mining Ltd 4.500 0.2 0.1 -50.0%
08/27/2019 APV Appsvillage Australia Ltd 5.000 0.2 0.115 -42.5%
05/23/2019 PWL Powerwrap Ltd 17.432 0.35 0.23 -34.3%
05/10/2019 360 Life360 Inc 145.428 4.79 3.61 -24.6%
05/24/2019 TIP Teaminvest Private Group Ltd 3.970 1 0.82 -18.0%
03/07/2019 CBY Canterbury Resources Ltd 6.147 0.3 0.25 -16.7%
06/06/2019 PKS PKS Holdings Ltd 16.130 0.2 0.19 -5.0%
10/11/2019 MHH Magellan High Conviction Trust 861.814 1.5 1.49 -0.7%
06/11/2019 PGL Prospa Group Ltd 109.756 3.78 3.76 -0.5%
09/26/2019 PGG Partners Group Global Income F 550.000 2 2.04 2.0%
04/29/2019 MOT MCP Income Opportunities Trust 300.000 2 2.06 3.0%
06/19/2019 WSP Whispir Ltd 47.000 1.6 1.65 3.1%
05/14/2019 PCI Perpetual Credit Income Trust 440.000 1.1 1.135 3.2%
05/07/2019 MRZ Mont Royal Resources Ltd 5.000 0.2 0.21 5.0%
02/14/2019 A1G African Gold Ltd 4.500 0.2 0.21 5.0%
10/01/2019 MAD Mader Group Ltd 50.000 1 1.05 5.0%
06/06/2019 RLT Renergen Ltd 10.000 0.8 0.845 5.6%
06/17/2019 RF1 Regal Investment Fund 281.778 2.5 2.7 8.0%
10/14/2019 HMC Home Consortium 325.000 3.35 3.8 13.4%
05/28/2019 IAP Investec stralia Property Fu 101.538 1.32 1.55 17.4%
06/14/2019 VOL Victory Offices Ltd 30.000 2 2.43 21.5%
04/30/2019 PE1 Pengana Private Equity Trust 157.371 1.25 1.52 21.6%
08/16/2019 FCL Fineos Corp Holdings PLC-CDI 210.975 2.5 3.05 22.0%
10/16/2019 DTC Damstra Holdings Pty Ltd 49.322 0.9 1.16 28.9%
04/17/2019 RDY Readytech Holdings Ltd 50.000 1.51 1.95 29.1%
07/05/2019 IXC Invex Therapeutics Ltd 12.000 0.4 0.54 35.0%
06/14/2019 2BE Tubi Pty Ltd 5.760 0.2 0.275 37.5%
08/30/2019 IMR Imricor Medical Systems Inc 13.000 0.83 1.21 45.8%
02/22/2019 MPH Mediland Pharm Ltd 12.553 0.2 0.305 52.5%
08/22/2019 OPC OptiComm Ltd 42.352 2 3.7 85.0%
07/30/2019 SZL Sezzle Inc 43.571 1.22 2.33 91.0%
07/11/2019 QFE QuickFee Ltd 13.500 0.2 0.4 100.0%
06/12/2019 PBH PointsBet Holdings Pty Ltd 75.000 2 4.5 125.0%
06/07/2019 VVA Viva Leisure Ltd 20.000 1 2.35 135.0%
04/18/2019 NXS Next Science Ltd 35.000 1 2.75 175.0%
06/21/2019 VGI VGI Partners Ltd 75.000 5.5 16.46 199.3%
03/29/2019 EOF Ecofibre Ltd 20.000 1 3.23 223.0%
01/29/2019 SPT Splitit Payments Ltd 12.000 0.2 0.86 330.0%
09/23/2019 OSX Osteopore Ltd 5.250 0.2 0.86 330.0%
02/13/2019 UWL Uniti Group Ltd 13.181 0.25 1.535 538.9%