ASX Capital Raise Roundup: Plenty of activity to report but IPOs remain weak
Link copied to
ASX Capital Raise Roundup is a fortnightly look at ASX capital raisings.
This was an extremely active week with capital raises and the big question is, “Why?”
We suspect it has something to do with companies issuing their respective quarterly activity reports.
These documents give investors insights into companies’ business dealings over the past 90 days and, importantly, their respective cash positions. With full disclosures now in the public domain, they are free to issue more shares.
An example is this week’s Sensera Ltd (ASX:SE1) capital raise at $0.03 per share.
Strong performer Alligator Energy Limited (ASX:AGE) issued $10m at $0.027 per share with the funds being applied to its flagship Samphire Uranium Project and other endeavours.
These companies have upcoming significant activities and are securing the necessary capital.
We are also noticing a firming trend in the medical sectors with the US biotechnology index hitting fresh highs and companies such as Anteris Technologies LTD (ASX:AVR) offering well-received capital raises.
On the Initial Public Offering side, market weakness continues and only companies with a clear path towards profitability and milestones such as Aquirian Limited (ASX:AQN) are trading at premiums. Of particular note, US darling Robinhood (NASDAQ:HOOD) is already trading at ~$32.00, down from its IPO price of $38.
|Company Name||ASX Code||Market Cap||Issue Price||Free attaching options||Price Midday Friday||% Change from issue price to current price||Stock halted?||Sector||Industry|
|Dubber Corporation Limited||DUB||$773.709M||$ 2.950||$ 3.090||4.75%||Technology Services||Packaged Software|
|METAL TIGER PLC (XASX:MTR)||MTR||$70.731M||$ 0.370||$ 0.460||24.32%||Non-Energy Minerals||Other Metals/Minerals|
|CAENEUS MINERALS LTD (XASX:CAD)||CAD||$39.87M||$ 0.007||1:1 free attaching listed option exercise price 1.5c expires DEC 2023||$ 0.011||57.14%||Non-Energy Minerals||Other Metals/Minerals|
|THETA GOLD MINES LIMITED (XASX:TGM)||TGM||$110.71M||-||$ 0.220||-||Suspended from trading||Non-Energy Minerals||Precious Metals|
|SIMBLE SOLUTIONS LIMITED (XASX:SIS)||SIS||$7.929M||$ 0.025||1:2 free attaching option (subject to shareholder approval) exercisable 4c, 3 year term||$ 0.032||28.00%||Technology Services||Packaged Software|
|Aroa Biosurgery Limited||ARX||$356.775M||$ 1.650||$ 1.140||-30.91%||Health Technology||Medical Specialties|
|IMUGENE LIMITED (XASX:IMU)||IMU||$1.651B||$ 0.300||$ 0.302||0.67%||Health Technology||Biotechnology|
|AUSTRALIAN MINES LIMITED (XASX:AUZ)||AUZ||$87.152M||$ 0.019||$ 0.0215||13.16%||Non-Energy Minerals||Other Metals/Minerals|
|VICTORY MINES LIMITED (XASX:VIC)||VIC||$13.921M||$ 0.0025||1:4 free attaching unlisted option, exercisable 0.3c, 3 year term.||$ 0.003||20.00%||Non-Energy Minerals||Other Metals/Minerals|
|JATCORP LIMITED (XASX:JAT)||JAT||$38.225M||$ 0.019||1:2 free attaching option, exercise price 5c, two year term||$ 0.021||10.53%||Process Industries||Chemicals: Specialty|
|RHYTHM BIOSCIENCES LIMITED (XASX:RHY)||RHY||$196.106M||$ 0.850||1:2 free attaching option, exercisable at $1.20 and $1.80||$ 0.940||10.59%||Commercial Services||Miscellaneous Commercial Services|
|Melbana Energy Limited (XASX:MAY)||MAY||$55.604M||$ 0.020||1:2 free attaching listed option, exercisable 3.5c, 12 month expiry.||$ 0.021||5.00%||Energy Minerals||Oil & Gas Production|
|ZENITH MINERALS LIMITED (XASX:ZNC)||ZNC||$73.59M||$ 0.215||$ 0.220||2.33%||Non-Energy Minerals||Other Metals/Minerals|
|ALLEGIANCE COAL LIMITED (XASX:AHQ)||AHQ||$204.494M||$ 0.670||$ 0.695||3.73%||Energy Minerals||Coal|
|ALLIGATOR ENERGY LTD (XASX:AGE)||AGE||$85.969M||$ 0.027||$ 0.036||33.33%||Still in Halt||Non-Energy Minerals||Other Metals/Minerals|
|CIPHERPOINT LIMITED (XASX:CPT)||CPT||$8.126M||$ 0.029||$ 0.035||20.69%||Still in Halt||Non-Energy Minerals||Other Metals/Minerals|
|PEARL GLOBAL LIMITED (XASX:PG1)||PG1||$17.484M||$ 0.035||$ 0.047||34.29%||Still in Halt||Distribution Services||Wholesale Distributors|
|ANTERIS TECHNOLOGIES LTD (XASX:AVR)||AVR||$59.576M||$ 8.000||3:5 Free attaching options at $10 with 4 year expiry||$ 8.590||7.38%||Still in Halt||Commercial Services||Miscellaneous Commercial Services|
|POSEIDON NICKEL LIMITED (XASX:POS)||POS||$379.271M||$ 0.110||$ 0.135||22.73%||Still in Halt||Non-Energy Minerals||Other Metals/Minerals|
|LINIUS TECHNOLOGIES LIMITED (XASX:LNU)||LNU||$31.766M||-||$ 0.021||-||Still in Halt||Non-Energy Minerals||Precious Metals|
|SENSERA LIMITED (XASX:SE1)||SE1||$15.321M||$ 0.034||$ 0.045||32.35%||Still in Halt||Electronic Technology||Semiconductors|
|ALDERAN RESOURCES LIMITED (XASX:AL8)||AL8||$14.003M||-||$ 0.047||-||Still in Halt||Non-Energy Minerals||Other Metals/Minerals|
|POINTSBET HOLDINGS LIMITED (XASX:PBH)||PBH||$2.349B||$ 10.000||$ 11.290||12.90%||Still in Halt||Technology Services||Internet Software/Services|
|CANYON RESOURCES LIMITED (XASX:CAY)||CAY||$58.023M||-||$ 0.093||-||Still in Halt||Non-Energy Minerals||Precious Metals|
|WEST WITS MINING LIMITED (XASX:WWI)||WWI||$96.716M||$ 0.060||1:2 unlisted option, exercise price 12c, expiry Jan 2022||$ 0.069||15.00%||Still in Halt||Non-Energy Minerals||Precious Metals|
|FRONTIER RESOURCES LIMITED (XASX:FNT)||FNT||$7.826M||-||$ 0.016||-||Still in Halt||Non-Energy Minerals||Other Metals/Minerals|
|IPB PETROLEUM LIMITED (XASX:IPB)||IPB||$6.024M||-||$ 0.021||-||Still in Halt||Energy Minerals||Oil & Gas Production|
|FIJI KAVA LIMITED (XASX:FIJ)||FIJ||$14.945M||$0.10||$ 0.120||20.00%||Still in Halt||Health Technology||Pharmaceuticals: Major|
Imugene Limited (ASX:IMU) has raised $90m to new and existing institutional and sophisticated investors at 30c per share. The placement received cornerstone interest from specialist biotech institutional investors.
The company is looking to raise a further $5m through a Share Purchase Plan at the same price as the placement.
Investors will receive one free attaching option for every two shares subscribed for in the offer with an exercisable price of 45c. The capital raised will be used to fund Imugene’s clinical trial pipeline through to the end of 2025.
Australian Mines Limited (ASX:AUZ) has raised $6.5m at 1.9c per share. Strong support for the placement was received from institutional investors both domestically and internationally.
Canaccord Genuity acted as lead manager and bookrunner to the placement.
Australian Mines managing director, Benjamin Bell, commented: “I am pleased with the strong support from both offshore and domestic investors for the Placement.
“This is an indication of the strengthening battery materials market and Australian Mines’ future role as a large-scale, long life battery materials producer.
“We will now be producing P-CAM samples in addition to continuing to produce nickel and cobalt sulphate samples, which will help secure offtake agreements with various international battery and motor vehicle manufacturers”.
JatCorp Limited (ASX:JAT) has raised $3m through a successful placement managed by Everblu Capital.
The placement was completed at 1.9c per share, with investors receiving a free 1-for-2 option with a strike price of 5c, and a two-year expiry date.
Funds will be used for machinery for its ANMA manufacturing facility, investments in production of goods for sale, and working capital.
JatCorp is a leading producer of supplementary food products and plant-based meat. JatCorp has a track record of successful product development and distinguished technology.
Melbana Energy Limited (ASX:MAY) has secured underwriting for a pro rate non-renounceable entitlement offer of two fully paid shares for every 13 shares held at the record date.
Investors will also receive a free 1-for-2 option, exercisable at 3.5c with a one-year expiry date. 180 Markets was pleased to assist Canaccord Genuity with the underwriting of this offer and received strong demand.
Shaun Factor, co-founder of 180 Markets said: “It is great to see companies like this offering their shareholders to fund the future prospects of the company.
“The sub-underwriting was a very popular method for new investors as they will receive 1 sub-underwriter commitment option for every 1 share sub-underwritten which are the same terms as the attaching options in the rights issue.”
The offer price of the raise was at discount of 16% to the previous trading price.
Alligator Energy (ASX:AGE) is currently in a trading halt for a $10m capital raise at 2.7c per share. The raise was done at a massive 25% discount to the last price of 3.6c per share.
180 Markets has huge interest for this deal which was done at almost 4X the price of the last raise for which 180 Markets was the lead manager.
AGE is a uranium-focused project development and exploration company, targeting multi-jurisdictional resource and exploration projects with clear pathways for approval and development. The funds for this raise will be used on its Samphire and ARUP Programs as well as general working capital.
Pointsbet Holdings Limited (ASX:PBH) is currently in a trading halt for a placement and a 1-for-9 entitlement offer to raise a total of $400m.
The placement will be priced at $10 per share while the entitlement offer will be at a lower price of $8 per share.
Funds raised under this offer will be used for North American marketing and client acquisition, technology and product development, US market access and government licensing fees, continued investment in talent and scale of operation as well as balance sheet flexibility.
Hit the bourse this week
|Company Name||ASX Code||Listing Date||Issue Price||Price as of Midday Friday||Change from issue price to current price|
|Best & Less Group Holdings Ltd||BST||26/7/21||$ 2.16||$ 2.670||24%|
|Aquirian Limited||AQN||27/7/21||$ 0.20||$ 0.225||13%|
|East 33 Limited||ETT||29/7/21||$ 0.20||$ 0.260||30%|
|M3 Mining Limited||M3M||29/7/21||$ 0.20||$ 0.200||0%|
In what has been a very successful week for IPOs, we have seen mostly all of the new companies trade at strong premiums.
Best & Less Group Holdings LTD (ASX:BST) is currently trading 24% higher than its IPO price, Aquirian limited (ASX:AQN) is trading 13% higher than its IPO price and East 33 Limited (ASX:ETT) is trading up 30%.
After a few weeks of negative returns for investors, it is great to see that these new companies are attracting strong interest after listing.
180 Markets Analyst, Ariella Grunfeld said: “After disappointing listings overseas, including Robinhood (NASDAQ:HOOD), it is exciting to see Australia receiving gold metals, not only in the pool but on the market too. Australia should add this to our Olympic tally.”
Expected to hit the bourse next week
|Company Name||ASX Code||Listing Date||Issue Price||Company Name|
|Pantera Minerals Limited||PFE||5/8/21||$ 0.200||Pantera Minerals Limited|
|Company Name||ASX Code||Market Cap||Issue Price||Price Midday Friday||% Change from issue price to current price|
|BRYAH RESOURCES LIMITED (XASX:BYH)||BYH||$11.616M||$ 0.075||$ 0.057||-24.00%|
|VOLT RESOURCES LIMITED (XASX:VRC)||VRC||$83.311M||$ 0.015||$ 0.029||93.33%|
|PEPINNINI MINERALS LIMITED (XASX:PNN)||PNN||$15.466M||$ 0.230||$ 0.295||28.26%|
|MOUNT BURGESS MINING N.L. (XASX:MTB)||MTB||$5.314M||$ 0.008||$ 0.006||-25.00%|
|ALLIGATOR ENERGY LTD (XASX:AGE)||AGE||$83.581M||$ 0.007||$ 0.036||414.29%|
|PNX METALS LIMITED (XASX:PNX)||PNX||$32.87M||$ 0.006||$ 0.008||33.33%|
|REDSTONE RESOURCES LIMITED (XASX:RDS)||RDS||$9.347M||$ 0.012||$ 0.011||-8.33%|
|KORE POTASH PLC (XLON:KP2)||KP2||$50.088M||$ 0.020||$ 0.015||-25.00%|
|ECLIPSE METALS LIMITED (XASX:EPM)||EPM||$44.021M||$ 0.015||$ 0.022||46.67%|
180 Markets was established by investors for investors, and has become Australia’s leading deal sharing platform, with a difference. In just 12 months, 180 Markets has established a 1800+ strong investor base that has enjoyed access over 650 placements on the ASX, including more than 30 placements where 180 Markets has been lead manager.
If you are interested in Placements, IPOs and RTOs sign up at www.180markets.com.au.
This article was developed by 180 Markets, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.