IPO Watch: shhhh… there’s a new kid in town from Israel
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Israeli startup Insense Medical is considering an IPO in Australia by the end of June next year, introducing to the ASX its no-lungs-needed breathing technology.
The company, brought to you by Melbourne advisor Henslow, is testing a device it has dubbed ‘Oxylink’ that it says can directly oxygenate the blood and bypass the lungs.
The idea is that doctors can still ventilate the body but don’t need to rely on the lungs, in cases where they’ve been damaged.
The company, originally named ClearX Medical, does not yet have a functioning website but a description on Israel’s Startup Nation Central database says it uses nano-vesicle technology — tiny sacs released by cells that carry chemical messages between cells and an increasingly popular drug delivery mechanism.
A pre-IPO investor presentation says Insense Medical is about to embark on clinical trials in up to 10 pigs weighing 120kg each in order to de-risk the technology before any IPO.
The technology is under review ahead of a possible patent application.
There is precious little information available about Insense, but its advisor was behind the spectacular Atomos (ASX:AMS) IPO a year ago, the sale of Maggie Beer to Longtable (ASX:LON), has advised companies including Department 13 (ASX:D13), and was involved in the PaddyPower purchase of SportsBet in 2015.
|Company||Proposed ASX code||Proposed listing date/time||Industry||Issue price||Fund raising|
|13 Seeds Limited||13S||19 December 2019||$0.20||$6m||Hemp food|
|Aerometrex Limited||AMX||10 December 2019||$1.00||$25m||Aerial mapping|
|Amaero International Ltd||3DA||TBA||$0.20||$8m||Additive manufacturing|
|Elanor Commercial Property Fund||ECF||6 December 2019||$1.25||$173m||Commercial real estate|
|Founders First Limited||FFL||17 December 2019||$0.50||$17.5m||Craft beverage accelerator|
|Godolphin Resources Limited||GRL||20 December 2019||$0.20||$8m||Gold and base metals|
|Happy Valley Nutrition Ltd||HML||20 December 2019||$0.20||$15m||Dairy|
|iCetana Limited||ICE||18 December 2019||$0.20||$5m||Video analytics software|
|Insense Medical||TBA||Q2 calendar 2020||TBA||TBA||Medical devices|
|M8 Sustainable Limited||M8S||12 December 2019||$0.20||$19.5m||Waste management|
|Macarthur Minerals Limited||MIO||6 December 2019||$0.25||$7.5m||Iron ore, gold and lithium exploration|
|Metal Hawk Limited||MHK||12 December 2019||$0.20||$5.5m||Gold and nickel exploration|
|MoneyMe Limited||MME||16 December 2019||$1.25||$45m||Fintech|
|Nemex Resources Limited||NXR||TBA||$0.20||$5m||Mineral exploration|
|Nicheliving Holdings||NLH||TBA||$0.50||$12m||Real estate|
|Nitro Software Limited||NTO||11 December 2019||$1.72||$110m||PDF software|
|Nuchev Pty Ltd||NUC||9 December 2019||$2.60||$48.7m||Dairy|
|OpenLearning Limited||OLL||6 December 2019||$0.20||$8m||Online learning platform|
|Openpay Group Ltd||OPY||16 December 2019||$1.60||$50m||Buy Now, Pay Later|
|Tartana Resources Limited||TNA||TBA||$0.20||$6m||Mining exploration|
|Terragen Holdings Limited||TGH||11 December 2019||$0.25||$25m||Agricultural biotech|
|Tyro Payments Limited||TYR||6 December 2019||$2.50||$298m||Fintech|
|Virgo Resources Ltd||VIR||20 December 2019||$0.20||$5.5m||Copper and gold exploration|
Nearly 40 years after its establishment, Adelaide-based Aerometrex will list on the ASX next week, all things going well.
The aerial imaging firm raised $25m and will enter the bourse with a market capitalisation of $95m.
3D printer Amaero is also looking to launch, suggesting that Victoria is adding additive manufacturing to the list of industries calling it home. That list also includes Australia’s biotech sector.
Amaero “manufactures large format complex components in metal with laser-based additive manufacturing processes”, meaning they use lasers to make 3D printed metal parts.
Most ASX investors would be familiar with 3D metal printer Titomic (ASX:TTT), a 2017 IPO so successful that Melbourne’s financial sector effectively shut down that afternoon to celebrate.
Video analytics company iCetana is set to list by year-end. It’s looking to raise $5m from investors at 20c per share for an indicative market capitalisation of $27.5m.
And another Tasmanian hemp food maker, 13 Seeds, is setting up for launch.
The company will be one of the few Australia-based pure play hemp companies on the ASX, joining fellow Taswegian ECS Botanics (ASX:ECS).
Elixinol Global (ASX:EXL) and Ecofibre (ASX:EOF), both of which had spectacular IPOs, have their hemp operations mainly in the US, as does recent hemp wannabe Croplogic (ASX:CLI), whose main business is selling agronomy technology to farmers. Former miner Cann Global (ASX:CGB) is dabbling in all aspects of the cannabis industry.
So far in 2019, 47 companies have listed.
Adelaide company Uniti Wireless (ASX:UWL) and fintech Splitit (ASX:SPT) have been the most successful to date.
US lolly company Candy Club (ASX:CLB) and Trigg Mining (ASX:TMG) have been the least successful.
Fully sick wheel maker Carbon Revolution (ASX:CBR) listed last week and instantly became the one that got away, for anyone who didn’t get in. The stock bounced over 30 per cent on day one and hasn’t looked like coming close to the IPO offer price since.
|Listed date||ASX Code||Company||Funds raised ($M)||IPO Price||Price Nov 19||% change|
|02/19/2019||CLB||Candy Club Holdings Ltd||5||0.2||0.06||-0.71|
|10/03/2019||TMG||Trigg Mining Ltd||5||0.2||0.084||-0.58|
|11/07/2019||CAU||Cronos Australia Ltd||20||0.5||0.265||-0.51|
|06/11/2019||PGL||Prospa Group Ltd||110||3.78||1.94||-0.48|
|06/14/2019||2BE||Tubi Pty Ltd||6||0.2||0.12||-0.33|
|03/07/2019||CBY||Canterbury Resources Ltd||6||0.3||0.2||-0.27|
|05/24/2019||TIP||Teaminvest Private Group Ltd||4||1||0.85||-0.15|
|06/06/2019||PKS||PKS Holdings Ltd||16||0.2||0.175||-0.13|
|02/14/2019||A1G||African Gold Ltd||5||0.2||0.175||-0.1|
|10/31/2019||TDI||360 Capital Digital Infrastruc||65||2||1.8||-0.1|
|11/13/2019||VG8||VGI Partners Asian Investments||557||2.5||2.29||-0.08|
|11/21/2019||KKC||KKR Credit Income Fund||925||2.5||2.47||0|
|05/14/2019||PCI||Perpetual Credit Income Trust||440||1.1||1.12||0.01|
|09/26/2019||PGG||Partners Group Global Income F||550||2||2.03||0.02|
|04/29/2019||MOT||MCP Income Opportunities Trust||300||2||2.06||0.04|
|06/17/2019||RF1||Regal Investment Fund||282||2.5||2.6||0.04|
|08/16/2019||FCL||Fineos Corp Holdings PLC-CDI||211||2.5||2.65||0.06|
|08/27/2019||APV||Appsvillage Australia Ltd||5||0.2||0.205||0.07|
|06/14/2019||VOL||Victory Offices Ltd||30||2||2.16||0.09|
|10/01/2019||MAD||Mader Group Ltd||50||1||1.07||0.1|
|10/11/2019||MHH||Magellan High Conviction Trust||862||1.5||1.665||0.11|
|05/28/2019||IAP||Investec stralia Property Fu||102||1.32||1.4725||0.12|
|04/17/2019||RDY||ReadyTech Holdings Ltd||50||1.51||1.675||0.15|
|11/08/2019||PWG||Primewest Group Ltd||100||1||1.14||0.15|
|04/30/2019||PE1||Pengana Private Equity Trust||157||1.25||1.485||0.2|
|05/07/2019||MRZ||Mont Royal Resources Ltd||5||0.2||0.245||0.22|
|11/29/2019||CBR||Carbon Revolution Ltd||90||2.6||3.3||0.26|
|10/16/2019||DTC||Damstra Holdings Pty Ltd||49||0.9||1.11||0.28|
|08/30/2019||IMR||Imricor Medical Systems Inc||13||0.83||1.16||0.37|
|02/22/2019||MPH||Mediland Pharm Ltd||13||0.2||0.29||0.45|
|07/05/2019||IXC||Invex Therapeutics Ltd||12||0.4||0.75||0.9|
|04/18/2019||NXS||Next Science Ltd||35||1||2.22||1.32|
|06/12/2019||PBH||PointsBet Holdings Pty Ltd||75||2||4.705||1.43|
|06/21/2019||VGI||VGI Partners Ltd||75||5.5||14.41||1.55|
|06/07/2019||VVA||Viva Leisure Ltd||20||1||2.9||1.88|
|01/29/2019||SPT||Splitit Payments Ltd||12||0.2||0.785||2.93|
|02/13/2019||UWL||Uniti Group Ltd||13||0.25||1.78||6.41|