IPO Watch: Uniti Wireless set to ring the ASX bell today; four contenders take their mark
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Four more companies are vying for a place on the ASX as wireless internet provider Uniti Wireless gears up to make its grand entrance today.
Uniti was admitted to the “Official List” on Tuesday and will start trading at 11am AEDT today.
The company managed to raise just over $13m of the $18m it was aiming for through the issue of shares at 25c a piece. This will give it a market cap of $25.1m on listing.
Uniti will no doubt be hoping for a better share price performance than a large chunk of companies that have listed over the past year.
There were 83 new listings in the past year and only 25 have had a positive return since listing.
Payments provider Splitit (ASX:SPT) has been the best performer since it made it onto the ASX in late January.
On debut it rocketed 90 per cent to a high of 38c. It didn’t stop there though, with shares now up 285 per cent to 77c.
It was the first listing of the new year, and the first company to successfully list since early December, when Alliance Minerals Assets (ASX:A40) lit up the boards.
However, it’s still nowhere near the absolute best IPOs in the past five years.
Pot stock Elixonol Global (ASX:EXL) has climbed 201 per cent to trade at $3.01, anti-ageing drug developer Exopharm (ASX:EX1) is up 180 per cent at 56c, and New Zealand-based dairy product manufacturer Keytone Dairy (ASX:KTD) has advanced nearly 108 per cent to 41.5c.
The worst performer since listing in January last year is Frontier Diamonds (ASX:FDX). It’s share price has lost 88 per cent of its value and is now trading around 2.4c.
Here’s a list of IPO performances over the past year:
Meanwhile, there’s a new player in the resources space.
Australian Industrial Minerals emerged in February last year and is now paving its way to the ASX.
The company is undertaking an IPO to raise $5m at 20c per share to fund the development of its Harts Range mine, which hosts garnet and hornblende.
These minerals are used in the industrial abrasive industry because they are low cost.
Garnet is typically used in abrasive blast cleaning, waterjet cutting and water filtration applications, while hornblende is usually only used in abrasive blast cleaning.
Australian Industrial Minerals is aiming to light up the boards by March 28.
Hemp grower Ecofibre has made clear its plans to try and raise between $15m and $20m by issuing shares at $1 per share so it too can list on the ASX.
Ecofibre wants to commercialise hemp-based products in textiles and composite materials as well as accelerate the growth of its hemp food products.
The company is likely to be the first cannabis-related IPO in 2019.
The IPO opens February 18 and closes March 4. Listing is slated for March 29.
The dairy formula crew is getting a new member as Australian Nutrition & Sports asks for $8m to help it join the ASX.
The Victoria-based company’s goal is to be listed by April 3.
Australian Nutrition & Sports markets milk formula for kids aged 12 months and under and adults over 50, as well as a range of protein products including powder, shakes, bars and something called “rapid energy gels”.
US-based biotech Koligo Therapeutics has filed a prospectus with ASIC outlining its plans to raise between $6m and $7m.
Koligo is focused on the development and commercialisation of a range of cell therapy, three-dimensional bio-printed tissue and other regenerative medicine products.
The company recently started selling its first cell therapy transplant product, Kyslecel, in the US.
Kyslecel is used in the treatment of patients suffering from chronic or acute recurrent pancreatitis, a debilitating and painful condition with few effective treatment options.
Koligo is hoping to make its debut on March 29.
Here’s a table of upcoming floats: