What’s cooking in the IPO kitchen?
AIM
Touchstone Exploration— Oil exploration and production company active in the Republic of Trinidad and Tobago. Interests of approximately 90,000 gross acres. Production c. 1,300 boepd. Raising £1.45m. Expected mkt cap £7.5m. Due 26 June.
I3 Energy –Schedule 1. Independent oil and gas company with assets and operations in the UK. Offer TBC, 7 June admission.
Verditek— Schedule 1 update. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Issue price 10p. Admission in late June
Tiso Blackstar Group—Schedule 1 update. Media, entertainment and marketing solutions group/ £160m mkt cap. Admission only. Expected late June.
Main Market Standard Listing
Vordere—RTO targeting German Property. Raising £9m at 17p. Readmission c. 15 June.
Main Market Premium Listing
Resiential Secure Income - social housing REIT raising up to £300m Admission due c.12 July.
ScotGems—Admission due 26 June. Seeking £50-£100m. To investing in a diversified portfolio of Small Cap Companies listed on global stock markets
DP Eurasia—Intention to float from the exclusive master franchisee of the Domino's Pizza brand in Turkey, Russia, Azerbaijan and Georgia . £20m primary raise plus a partial vendor sale.
Film Finances—Sky News reports that ‘movie financing company with credits including the Hollywood hits La La Land and Nocturnal Animals is plotting a blockbuster premiere on the London stock market that will value it at several hundred million pounds.’ Expected ‘during the summer’.
AIB—Intention to float from AIB, Ireland's leading retail and commercial bank . The Minister for Finance intends to sell approximately 25% of the Ordinary Shares of AIB. Prospectus and announcement of the price range due in mid-June 2017.
Curzon Energy—Report on Proactive Investors of intended LSE float this year with acquisition of coal bed methane assets in Oregon. Looking to raise £3m plus.
NLB Group—financial and banking institution based in Slovenia, with a network of 356 branches. Seeking Ljubliana Stock Exchange listing with GDRs on the LSE. Expected mid June.
Flying Brands (LON:FBDU)—Prospectus approved by FCA. RTO of Stone Checker Software, supplier of technology solutions in the field of kidney stone analysis and prevention. Has raised £550k at 3p. Subject to GM on 15 Jun.
Kuwait Energy— $150m raise plus vendor offer. Admission due June. 2p reserves 810.0 mmboe
Breakfast buffet
Billing Services (LON:BILL) 2.62p £7.4m
The provider of telecommunications clearing and financial settlement products, Wi-Fi data solutions and verification services, announced that further to its press release made on May 4, 2016, the fifth payment of $520,000 was made today. We could see no market forecasts.
Arden Partners (LON:ARDN) 39.5p £7.7m
HYApr17 results from the institutional stockbroking company. · Revenue: £2.9m (2016: £2.7m)
· Loss before tax: £1.3m (2016: £0.7m)
· Basic loss per share: 7.1p (2016: 4.2p)
· No interim dividend proposed (2016: nil)
· Tier 1 Capital Adequacy Ratio at 30 April 2017: 367%
"After a disappointing first half we are currently active on a number of corporate mandates and I look to the second half and beyond with confidence".
Donald Brown new CEO appointment received regulatory approval. Raising £5m by accelerated bookbuild. We could see no market forecasts.
Echo Energy (LON:ECHO) 17.45p £44.57m
The South and Central American focused upstream gas company, announced the appointment of Fiona MacAulay as Chief Executive Officer. Fiona has over 30 years of experience in the oil and gas industry, most recently as Chief Operating Officer and Technical Director of Rockhopper Exploration Plc. Fiona has led the company's work on the Sea Lion project in the North Falkland Basin where multiple discoveries in Sea Lion and most recently the Elaine Isobel complexes have resulted in audited 2C contingent resources of over half a billion barrels. Appointment of Julian Bessa as Vice President, Exploration. Julian brings over twenty years exploration experience across the region, including at BG where he spent time as Bolivian Exploration Manager and VP Exploration Brazil.
IQE (LON:IQE) 68p £462m
The manufacturer of advanced semiconductor wafer products for the global semiconductor industry, has been closely associated with VCSEL Day 2017 which was hosted in Cardiff last week. Vertical Cavity Surface Emitting Lasers (VCSELs) represent an important technology in which IQE and compound semiconductors (CS) play a key enabling role. VCSEL devices are increasingly used in advanced sensor devices in consumer products and will play an important role in new and emerging 3D sensing, gesture recognition and LIDAR applications for driverless vehicles and a host of healthcare technologies. The event was organised by IQE and jointly sponsored by Cardiff University. FY Dec17E rev £141.4m and PBT £22.3m. PE c.22x
Osirium Technologies (LON:OSI) 95p £9.87m
The UK based cyber-security software provider, announced that it will expand into Germany. Riko Schick has been appointed as Business Development Director for the DACH region. He has over 20 years of experience working with software vendors such as Barracuda, Cybersecurity and Eplan and will be responsible for building and supporting a network of partners throughout the region. "The decision to enter the German market is part of our longer-term global growth strategy centred around developing a robust network of channel partners, which we have started building in the UK, Middle East and North Africa and Asia Pacific. Riko has strong connections with both distributors and resellers and is well placed to drive forward our German network."
Kromek Group (LON:KMK) 30.25p £784m
The radiation detection technology company focusing on the medical, security screening and nuclear markets, announced that its next generation standalone radiation detector, D3S-ID, was deployed by European Commission Counter Terrorism Unit of Directorate General for Home Affairs in Brussels. The D3S-ID was part of security operations deployed during the NATO Security Summit and the U.S. President, Donald Trump's visit to Brussels last month. Kromek was informed that the deployment was successful and its radiation detection systems performed well and met the desired high standards for accuracy and efficiency. FYApr17E rev £8.85m, loss £3.65m.
Advanced Oncotherapy (LON:AVO) 15.75p £12.49m
The developer of next-generation proton therapy systems for cancer treatment, announces further notable progress in the manufacture of its first LIGHT system. Multiple treatment room components have been manufactured, inspected and tested by the Company's partner P-Cure Ltd. ("P-Cure"), ahead of their integration to form a complete patient treatment system. The patient positioning subsystem, which includes the patient treatment chair and robotic arm which moves the chair and patient, is complete and has been designed to leverage LIGHT's next-generation features. The whole Patient Positioning System, which remains on track to be fully developed by the end of 2017.
K3 Business technology (LON:KBT) 154.5p £55.62m
Placing to raise up to £7.5 million before expenses at a price of 140 pence per share. Up to £1m open offer. £0.7m coming in through warrant exercise. Proceeds of Placing and Open Offer to be used to strengthen the Group's balance sheet and provide additional working capital whilst the Board conducts its review of Group resources and operations. David Bolton stepping down. Robert Price will join the Board of K3 as Finance Director. Robert has been Chief Financial Officer to the Company since October 2016, in a non-board capacity. Stuart Darling will become interim Chairman of the Company. Guiding £0.4m to £2.4m op loss FYJun17. Wide range as June key selling month, £3m cost savings identified.
Northern Bear (LON:NTBR) 56.5p £10.14m
FY Mar 17 Trading update from the roofing services, building services and materials handling Group. Earnings per share from continuing operations for FY2017 are ahead of FY2016 and management expectations following another strong year's trading.
· Net positive cash position at 31 March 2017 (31 March 2016: £2.5m net bank debt).
· Progressive dividend policy to continue (FY2016: 2.0p per share).
There are no forecasts in the market
Great Western Mining Corp (LON:GWMO) 0.39p £1.52m
Large increase in JORC Mineral Resources resulting from a comprehensive review by WT Cohan & Associates Inc. ("WTC") as part of a JORC Compliant Scoping Study over the Company's M2 copper-gold prospect in Mineral County, Nevada, USA. Resources were independently calculated from the results of reverse circulation drilling conducted by GWM in 2013 and 2014. These resources were calculated employing block modelling software and using 15.24 metre square x 1.52-metre-high blocks. 89.2k of contained copper at 0.525%. Exploration target at Shartooth peak of 871k to 2,032k tonnes contained metal at 1 to 1.75%.