IPO Watch: Fruit farmers and miners are poised at the ASX starting line
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As sewer smell eradicator Calix makes its ASX debut today, another nine hopefuls are warming up at the starting line with plans to list this month.
A number of junior resources businesses are pencilled in to list between now and the middle of August, while Calix will ring the bell this morning.
On the agriculture front, Vitalharvest (ASX:VTH) is planning to launch a $10 million initial public offering next week, offering exposure to leading Australian berry and citrus plays.
The Real Estate Investment Trust — basically an incoming-producing property portfolio — will be managed by goFARM Asset Management, which is half-owned by Costa Asset Management (CAM).
It’ll be headed up by chief executive Lisa Whitmore (who also runs CAM) and goFarm boss Liam Leneghan.
>> Scroll down for a list of upcoming ASX floats
The Vitalharvest IPO aims to raise $10 million by selling units at $1 each. Another $175 million has been raised via institutions and other sources.
Upon listing, the plan is to acquire four key berry projects and three citrus farms across Australia, giving investors access to assets valued at some $240 million, according to the prospectus.
The properties are owned by CAM and are tenanted by the Costa Group (ASX:CGC), which has a market cap of close to $2.5 billion and has leases on most of the properties to 2026.
Vitalharvest is pencilled to float on August 1.
Miners at the starting line
Three miners were set to hit the market this week but have not yet rung the bell: Rafaella Resources, Coolgardie Minerals and Kingwest Resources.
Rafaella was looking to raise $5 million at 20c a share and has been on the list of potential ASX debutantes since March.
Gold miner Kingswest was looking to raise $5 million for a July 19 listing, but did not hit the bourse yesterday. Stockhead has contacted the company for an update on their listing process.
Coolgardie Minerals told investors on Friday it had closed its $4 million raise, but was waiting approval from the ASX for listing “in the coming weeks”.
Elsewhere, Constellation Resources (ASX:CR1) is down for a prospective float date of July 24.
The business is owned by fellow listed minerals explorer Apollo Minerals (ASX:AON) and is being spun off as a separate listed business in an IPO worth $7 million.
According to the prospectus, $4 million of the funds would be used over the next four years to complete exploration work at the Orpheus nickel-copper project in WA.
AMD Resources (ASX:ADM) is pencilled in for August 6, having sought $22 million through an IPO for its gold and silver project portfolio.
Tempus Resources (ASX:TMR) is also down for July 30, having launched an IPO to raise $5 million at 20c per share.
The company is acquiring a 90 per cent interest in Montejinni Resources, which owns the Montejinni project in the Northern Territory and the Claypan Dam project in South Australia.
|Company||ASX code||Status||Focus||Fund raising||Issue price|
|1414 Degrees||14D||Offer extended to Aug 13||Silicon batteries||$30-50m||35c|
|Aldoro Resources||ARN||Was due to list Aug 6||Nickel, cobalt||$4.5-5m||20c|
|AMD Resources||-||Listing delayed to end of Aug||Gold, silver||$22m||50c|
|Andes Resources||-||Planning IPO this year; prospectus not yet lodged||Gold||$3-5m||-|
|archTIS||AR9||Offer closes Aug 17; Due to list Aug 27||Data security||$8-10m||20c|
|Awati Resources||AWA||Postponed indefinitely||Gold||$4.5m||-|
|Biomics Biopharma||BBM||Delayed multiple times||China-based biotech||$13-16m||20c|
|Calix||CXL||Listed July 20||Water treatment||$8m||53c|
|Candy Club||-||In pre-IPO rounds; considering float||Subscription confectionary||unknown||-|
|Carnaby Resources||-||Prospectus not yet issued||Gold||unknown||-|
|China Track||CTC||Delayed; was due to list Jun 11||Bulldozer parts||$32-40m||80c|
|Coolgardie Minerals||CM1||Listing delayed to end of Aug||Gold||$4.25m||20c|
|Constellation Resources||CR1||Listed Jul 30||Nickel, copper, gold||$7m||20c|
|Corona Resources||CNA||Cancelled||Copper, gold||$6m||-|
|Cowan Lithium||-||Spin-off from Tawana. Offer open Aug 30 to Sep 27; listing Oct 8||Lithium||$6m - 8m||20c|
|EcoMag||Postponed to late 2018||CleanTech||$3m||-|
|Eden Health||ETK||Was due to list Jul 11||Kiwi fruit-focused AgTech||$15.6 - 20m||20c|
|Euro Manganese||-||Offer open Sep 5-18; due to list Oct 1||Manganese||$5.2 - 8.8m||26c|
|Frugl||Pre-IPO funding; plans Sep listing||Grocery price comparison||tba||-|
|Golden State Mining||-||Offer open Sep 3-28; listing Oct 12||Gold||$4.5m - 5.5m||20c|
|Haixi Pharma||HXP||Delayed multiple times||China-based, pain relief biotech||$25 - 30m||50c|
|Hao Xian Yang||-||-||Beef, mutton and vegetarian meat||$1 - 1.5m||20c|
|Identitii||ID8||Offer open Aug 16-31; listing due Sep 19||Blockchain||$11m||75c|
|Kaiyun Holdings||-||Closing Oct 15; due to list Oct 29 on NSX||China-focused copper and gold||$3 - 4m||20c|
|Keytone Dairy||KTD||Listed Jul 18||NZ dairy powder exporter||$12 - 15m||20c|
|Kingwest Resources||KRW||Offer closed; Listing delayed to Aug 23||Gold||$5m||20c|
|Kleos Space||KSS||Offer closed Jun 21; listing delayed||Surveillance satellites||$11m||20c|
|Moho Resources||MOH||Due to list Sep 29||Gold, nickel, copper||$4.5-6m||20c|
|Montem||-||Due to list Sep 27||Canada-focused coking coal||$15-20m||50c|
|Neuroscientific Biopharma||NSB||TBA, was due end of July||Alzheimer’s||$5-6m||20c|
|Nicheliving||NLH||Extended to Sep 14||Residential developer||$5-12m||50c|
|Nickel Mines||NIC||Listing delayed to Aug 20||Nickel||$200m||35c|
|Norwest Gold||-||Spin-off from Australian Mines (ASX:AUZ) due to open in Sep||Gold and base metals||$2.6m||-|
|Ocean Guardian||OCG||Cancelled||Shark deterrent||$5m||-|
|OneAtom 12||-||Due to list Aug 10 on NSX||Water treatment||$3m||8c|
|Power Asia Limited||P88||Offer extended||Renewable energy||$9m||20c|
|Prospa||PGL||Postponed||small business loans||$146m||3.64|
|QEM||QEM||Closes Sep 10; due to list Sep 20||Vanadium||$5m||20c|
|Rafaella Resources||RFR||Listed July 26||Cobalt, copper, gold||$5m||20c|
|Raptor Resources||RPL||MIA||Lithium, copper, iron ore||$4-4.5m||-|
|Rong Yu Pharma||RY8||Delayed||Traditional Chinese Medicine||$14-20m||20c|
|Secure2Go Group||S2G||Postponed indefinitely||Cyber security||$4-5m||30c|
|Spreedbox||SBX||Delayed, was due to list Jun 20||Cloud computing||$4.2-$4.9m||20c|
|Sultan Resources||SLZ||IPO closes Jul 27; was due to list Aug 7||Gold||$4.5-5m||20c|
|Tartana Resources||-||IPO suspended due to ASIC query||Zinc, copper||$5-6m||-|
|Tempus Resources||TMR||Due to list Aug 15||Copper, gold, nickel, zinc||$5m||20c|
|Trigg Mining||TMG||Postponed indefinitely||Potash||$4-6m||-|
|Universal Biosecurity||UBL||Delayed||Safe pest control||$5 million||20c|
|Vintage Energy||VEN||Offer closes Aug 31; Due to list Sep 17||Gas exploration||$30 million||0.20|
|Vitalharvest||VTH||Listed Aug 6||Fruit farms||$10m||$1|
|Zaige Waste Management||ZGZ||Delayed||China-based recycling||$14-20m||0.2|