What’s cooking in the IPO kitchen?
Global Ports Holding—Intention to float on Standard List of the Main Market. International cruise ports operator. Seeking $250m raise including $75m primary offer.
Dorcaster—Schedule One Update. Admission now expected on AIM 3 May. RTO of Escape Hunt raising £14m at 135p.
Verditek— Intention to float on AIM. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Raising £3.5m. Admission in May.
Eddie Stobart Logistics— Schedule 1 update. Admission expected 25 April on AIM raising £122m.
ADES International Holding— Intends to join the Standard List of the Main Market in May raising up to $170m plus a vendor sale. Provider of offshore and onshore oil and gas drilling and production services in the Middle East and Africa. Admission expected in May.
Tufton Oceanic Assets– Offer extended to 9 May on specialist funds segment of Main Market to enable investors to complete further due diligence.
Fishing Republic (LON:FISH) 44.5p £16.83m
FYDec16 results from one of the largest fishing tackle retailers in the UK. Revenue up by 41% to £5,799,000 - reflecting store expansion programme and organic growth. Profit before tax and exceptional items up by 32% to £403,000. Five new stores added (total of 12 at year end) and 3 more in Q1 2017. Own website sales rose by 132% to £662,000 and accounted for 40% of total online sales. Year end cash £2.1m. The main fishing season, which typically begins in the second quarter of the year, has started well, helped by the recent warm weather, and the Board looks forward to reporting on further progress in due course. FYDec17E rev £8.61m and £0.5m PBT.
Goals Soccer Centre (LON:GOAL) 102p £76.72m
“Notes the recent press speculation concerning d i s c u s s i o n s w i t h Powerleague and the possibility of combining the two businesses. The preliminary discussions with Powerleague are but one of the strategic opportunities currently being assessed by the Goals Board. Furthermore, at this stage, no commercial or financial terms have been agreed and no decision on any course of action has been made by the Board. There is therefore no certainty that any transaction will proceed. Notwithstanding the above, the Board and the Executive are highly focused on delivering the plan announced in June 2016.” FYDec17E rev £36.3m and PBT £9.04m. PE sub 11x.
Nasstar (LON:NASA) 8.75p £50.71m
FYDec16 results (in line) from the provider of hosted managed and cloud computing services. Revenue up 36% to £18.7m. Monthly recurring revenue run rate increased 54%. Delivered gross margin of 69% despite the impact of the weakening pound against the dollar (2015: 70%). Adjusted EBITDA up 32% to £3.8m. Adjusted profit before tax up 13% to £1.9m. Final dividend of 0.052p per share, a 16% increase on prior year. Yearend net debt £2.8m, in line with expectations. Some caution due to macro environment and dollar strength. However ‘organic growth, combined together with the integration and rationalisation programmes being prioritised in 2017 should continue to deliver strong catalysts for improvement in shareholder value.’
HaloSource* (LON:HAL) 1.37p £0.41m
On Friday the global clean water technology Company announced a £1.9m placing at 1.5p with new and existing investors. The net proceeds of the Fundraise will provide additional working capital to the Company and also be used to fund commercialisation of the Company's lead removal technology and expansion of its drinking water business and commercialisation of lead removal technology. Trading: Assuming the Fundraise completes, the Company expects that for the FYDec17 revenue from continuing operations will be between $4m and $5m, operating expenses will be between $5.5m and $6m and the net loss will be between $3.5m and $4.5m. The Fundraise is conditional on one of the key cornerstone investors to the Fundraise receiving certain Chinese governmental approvals. Ceteris Paribus the Company expects to have sufficient cash to fund it through to Q2 2018.
Share (LON:SHRE) 26p £37.35m
Q1 Mar 17 trading update from The Share Centre Limited, a leading independent UK stockbroker. Quarterly revenues in excess of £4m for the first time in the Group's history. Revenue market share excluding interest reached a record high of 11.0% . £4bn of assets on the platform, up 6% since 1 January 2017. Positive outlook into the second quarter and beyond. “Performance reflects the progress we are making in both account acquisition and major new partnerships, as well as the high customer service levels we offer. We continue to view prospects for 2017 very positively and the Group remains well positioned for year-on-year revenue and earnings growth." FYDec17E rev £16.5m, PBT £0.31m.
Biome Technologies (LON:BIOM) 130p £3.05m
AGM statement from the bioplastics and radio frequency technology business. Total Group revenues achieved for the first three months of the year were £1.5m, 34% ahead of the same quarter last year. With both of the Group's divisions delivering a profitable performance, the Group made a small EBITDA and option charge profit. The Group's cash position as at 31 March 2017 was £1.8m (31 December 2016: £1.5m), reflecting the current trading activity and receipt of £0.45m under the settlement agreement reported previously. The Board remains confident in the Group's outlook for the remainder of the year. No market forecasts.
mporium Group (LON:MPM) 13.5p £72.16m
FYDec16 results from the mobile first technology firm. Successful placing in July 2016 raised £3.1m and post the year end, a further £3.0m was raised in March 2017. Group revenue increased to £ 1 . 8 m 2 0 1 5 : £1.3m). Comprehensive loss reduced to £3.9m (2015: £5.0m). The flagship product, IMPACT, uses realworld events to monetise in real-time moments of higher or lower consumer engagement. The IMPACT pro duct was successfully deployed with several major brands during Q4 2016. Commercial agreements for IMPACT signed with the world's biggest boutique digital agency Jellyfish (December 2016) and Essence, a WPP owned market leading global digital agency (March 2017). No market forecasts.
Mortice (LON:MORT) 90.5p £48.66m
The security and facilities management Company, announced that it, and its wholly-owned subsidiary, Tenon UK, have agreed to pay up to £4.5m for Manchester-based Elite C l e a n i n g & Environmental Services Ltd in cash and shares. The acquisition, which is expected to be immediately earnings enhancing, further expands the Company's UK footprint and is in line with its acquisitive and organic growth strategy. Elite achieved audited revenues of £12.3m and EBITDA of £1.0m for the financial year ended 31 December 2016. FYMar17E £137.58m rev and £3.47m PBT.
Holders Technology (LON:HDT) 36p £1.5m
AGM trading update from the supplier of specialty laminates and materials for printed circuit board (PCB) manufacture, and LED solutions provider to the lighting and industrial markets. Trading for the first period of 2017 has been broadly in line with the Board's expectations. PCB:(80% rev) shows an improvement in margin and revenue in trading to date. Investing in infrastructure and new products. LED trading stable with Internet of Things product range added. NRG Star Business which was in decline has been discontinued.
Lok’nStore Group (LON:LOK) 465p £133.49m
HYJan17 results from the fast growing self-storage Company. "Strong balance sheet funds growth strategy and pipeline of 8 new landmark stores". Revenue up 4.5% to £8.34m. Adjusted pre-tax profit £2.1m up 13.5%. Interim dividend 3 pence per share up 12.4% Adjusted NAV per share up 26.1% to £3.87. Net debt £16.7m down 35.3%. “The Group is well positioned for future growth.” FYJul17E rev of £17.3m and £4.7m PBT.