What’s cooking in the IPO kitchen?
Hydrominer GmbH, An Austrian cryptocurrency miner, is considering an initial public offering (IPO) on the London Stock Exchange AIM during 2018 according to an article on Bloomberg.
Block Energy—a NEX Listed UK based oil exploration and production company whose main country of operation is the Republic of Georgia, looks to join AIM end of February 2018. Offer TBC
Cradle Arc—holding company of a group of companies focused on the exploration and development of precious and base metals projects in Africa. Offer raising £2.4m with market cap of £20.13m. Expected 24 Jan 2018
OnTheMarket—Intention to float on AIM to raise c.£50m which will be used to fund the growth of the OnTheMarket.com portal, already the third biggest UK residential property portal provider. Expected valuation £200m to £250m.
Main Market Premium Listing
IntegraFin provides platform services to UK clients and their financial advisers through its award-winning platform, Transact. Due Mar 18. FYSep2017 PBT up 44% to £29.9m.
GEMS Education—report by Reuters that the private schools group is seeking a $4.5bn to $5bn London float in 2018. FYAug17 rev $926.2m and adjusted EBITDA $261.6m.
Vivo Energy—The Africa-focused company, which operates around 1,800 Shell forecourts across 16 countries reported by City A.M. to be preparing for a London float next year.
“The Toliara Sands Project acquisition has now completed.
With payment of the $75m up-front consideration by Base Resources, the initial 85% interest in the wholly owned Mauritian subsidiaries of World Titane Holdings Ltd, which between them hold a 100% interest in the Toliara Sands Project in Madagascar (held through wholly owned subsidiaries in Madagascar), and control, has now been transferred to the Company. Base Resources will acquire the remaining 15% interest, with a further $17m payable on achievement of key milestones as the project advances to mine development.”
Concurrent Technology (LON:CNC) 75.5p £54.9m
“The specialist in the design and manufacture of high-end embedded computer boards for critical applications, announced a range of products to help customers improve the security of their solutions.
The Company now offers a factory fitted, latest version Trusted Platform Module (TPM) 2.0 as an alternative build option to the original TPM 1.2 device for all customers using operating systems based on Windows® 10 or recent versions of Linux®. The TPM 2.0 will be available on all new boards and across a wide range of existing boards.
Concurrent Technologies Plc is also now marketing specific security capabilities as separate utilities. Initial examples include Unified Extensible Firmware Interface based Secure Boot and Sanitization capabilities that are compliant to the US Defense Security Service standards.” We could see no forecasts.
FYDec17 trading update from the construction software specialist. Both revenue and PBT expected to be significantly higher compared with Revenue and Profit before Tax for the year ended 31 Dec 2016 and in line with market expectations. Elecosoft's strong conversion of operating profits into cash in the year enabled the Group to eliminate its net borrowing position at 30 Jun 2017 and to also improve its net cash position further in H2. “Elecosoft's strong trading performance in 2017 was driven by the success of its sales strategy of securing new direct customers, backed up by providing strong customer training and support reflected in continued high renewal rates, and continued growth in our software reseller programme. The 2017 trading performance also benefited from the successful integration of the ICON business, which had been acquired in October 2016; and favourable exchange rate movements. The decision to unify all software products brands under the Elecosoft® brand during the year was also well received. FYDec17E rev £20.6m and PBT £2.2m. Div 0.5p.
SDX Energy (SDX.L) 50.9p £104.1m
The North Africa focused oil and gas company, announced that a gas discovery has been made at its ONZ-7 development well on the Sebou permit in Morocco.
The ONZ-7 well was drilled to a total depth of 1,167 meters with 5 meters of net conventional natural gas pay in the Hoot formation. The well came in on prognosis but reservoir quality exceeded initial expectations, encountering porosity in the pay section of 35.3%.
The well will now be completed, tested and connected to existing infrastructure. SDX expects to provide a further update on testing results in early February.
Boku (LON:BOKU) 85p £181.5m
The “direct carrier billing company, provided the following unaudited trading update for the year ended 31 Dec 2017. This is the Company's first Trading Update since Admission to AIM in November 2017.
The Group saw continued growth in all key metrics during 2017:
* Revenue for FY 2017 is expected to be in the range $24-24.5m, an increase of approximately 40% over 2016 ($17.2m)
* Adjusted EBITDA is expected to be positive for H2 2017, a major milestone for the company
* Total Processed Value (TPV) of $1.7bn for 2017 was more than triple the 2016 amount of $554m thanks to continued growth across all customer segments - most notably App Stores and Digital Music Subscriptions & Bundling.
We could see no forecasts.
FYDec17 update from technology based provider of communications services to the UK business market.
“We are pleased to report that Adjusted EBITDA* for the year ended 31 Dec 2017 is anticipated to be slightly ahead of market expectations. This reflects a strong demand in the business market for Gamma's portfolio of products.”
The closing net cash balance for the year was £31.6m compared to £28.2m at the end of the previous year, an increase of £3.4m in the year. This was achieved despite a significant capex programme for the year which included c£13m spent on the network (of which c£5m was spent on the new national network).
FYDec17E rev £233.47m and £26.1m PBT.
Castleton Technology (CTP.L) 68.5p £53.9m
“The software and managed services provider to the public and not-for-profit sectors, announced that it has secured two multi-year contracts, with a combined total contract value of £1.2m.
The first is a ten year contract with Circle VHA, Ireland, a provider of social housing. The contract is on a hosted basis for Castleton's integrated product suite, including the housing and finance system, electronic data records management system, financial modelling system, reporting system and Agile system.
The second contract is a renewal for Places for People, one of the largest property and leisure management, development and regeneration companies in the UK, which has more than 180,000 properties under ownership or management.” FYMar18E rev £23.12m and PBT £4.22m.
Eagle Eye (LON:EYE) 227.5p £57.82m
HYDec17 ‘in-line’ trading update from the SaaS technology company that allows businesses to create a real-time connection with their customers.
* Group revenue increased by c.28% to £6.5m (H1 2017: £5.1m)
* Loblaw to launch largest digital loyalty programme in Canada on 1 Feb 2018 enabled by the Eagle Eye AIR platform
* Redemption volumes of 82.8m, an increase of 228% year on year (H1 2017: 25.2m)
* SMS volumes of 28.6m, an increase of 50% (H1 2017: 19.0m)
* Revenue from subscription fees and transactions over the network represented 75% of total revenue in H1 2018 (H1 2017: 66%)
* Cash position of £0.8m (June 2017: Cash of £3.7m)
FYJunE rev £15.9m and Pre-tax loss £3.6m.