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
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. Offer raising £30m at 165p with market cap of £100m . Due 9 February.
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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.
Herencia Resources advised that the initial Reverse Circulation (RC) drilling at the Pastizal copper project in central Chile, reported copper assays from the 25 holes drilled of up to 4.13% including other high grade near surface copper (Cu) mineralisation.
* The initial RC drilling of 25 holes for 2,400 metres demonstrated that the copper mineralised zones within the limestone and chert were near surface when compared with the copper zones identified at the adjacent Picachos lease.
* The copper mineralisation intercepts suggest further expansion of the zones are possible at depth and along strike.
“The cleantech industrial oil re-refining group, is pleased to provide a trading update for the financial year ended 31 December 2017.”
* Group EBITDA approximately $0.45m, the first positive full-year EBITDA in the Group's history, a significant improvement of $1.75m on the prior year (2016: EBITDA loss of $1.3m)
* Revenues increase by 6% to approximately $17.8m (2016: US$16.8m from continuing core re-refining business), driven by improved pricing and sales mix
The general operating environment for oil related businesses has improved recently, positively impacting the Group's pricing and margins. 2018 has begun strongly in terms of sales orders in the US and Australia but the feedstock position in both geographies remains a constraint, in part driven by usual late Q4/early Q1 seasonality but also specifically in the US driven by robust demand for used transformer oil for fuels blending particularly in Mexico.
Immedia Group (LON:IME) 19p £2.77m
FYDec17 trading update from the supplier of multi-media content and digital solutions for leading brands and global businesses. “As a business we have experienced solid trading in 2017 evidenced through a mix of new contracts, organic growth and a full year's turnover from AVC Immedia. This has seen sales up c.36% over those reported for the 2016 financial year (2016: FY£2.6m). The uplift in revenue reflects the benefits of an enlarged Group offering as investment and initiative programmes start to feed through. As a Board we have been very encouraged by progress, however 2017 fell short of management expectations, with December being weaker than budgeted. The shortfall in our trading expectations reflects the impact of delays to the commencement of certain projects that we had anticipated to start in Q4 2017 and subsequently contribute to our trading performance.” We could see n forecasts.
easyHotel (LON:EZH) 113.5p £114m
Trading update from the owner, developer and operator of super budget branded hotels for the current financial year to date.
“The strong trading experienced in the prior year across the Group's owned and franchised hotel estates has continued, with the Group's performance since the financial year ended 30 September 2017 in line with the Board's expectations.
The Group's owned hotels have continued to significantly outperform both their competitive set and the wider UK hotel market.
The period saw the opening of a new owned 78 room hotel in Liverpool, and the acquisition and opening of a 104-room hotel in Newcastle. Both hotels are trading in line with the strong performance of the hotels opened during the last financial year.
The Group's franchised hotels have also continued to trade strongly, particularly in Continental Europe.” FYSep18E rev £11.15m and £0.85m PBT.
Anpario (LON:ANP) 480p £111m
“Anpario, the international producer of natural feed additives for animal health, hygiene and nutrition, has delivered a strong revenue and profit performance for the year to 31 December 2017, in line with expectations.
The strategic initiatives of recruiting a new senior management team, both centrally and regionally, and unifying our brands under the Anpario name, are helping to raise the Company's profile in key global markets.
The balance sheet remains strong and the Company's ability to convert profit into cash is demonstrated by cash balances of £13.6m (2016: £11.1m) at the year-end.
Anpario will announce its results for the year to 31 December 2017 on 7 March 2018.” FYDec17E rev £29.53m and £4.3m PBT.
Nasstar (LON:NASA) 11.1p £63.74m
FYDec17 trading update form the provider of hosted managed and cloud computing services.
“Trading for the year closed out positively with our careful strategic focus delivering Adjusted EBITDA slightly ahead of management expectations. Due to positive cash generation in the year, the Company delivered a significantly improved net cash position of approximately £1m which compared to net debt of £2.8m in 2016.
Group Adjusted EBITDA margins have moved ahead to c.23% (2016: 20.3%), up year on year and on track to deliver against our "Nasstar 10-19" target to raise margins from 20% to 25% of revenue by the end of 2019.” FYDec17E rev £25m and £3.5m PBT,
“The Live Data company, announces today it has secured a sales agreement with Bytes Technology Group UK, a leading provider of software licensing & cloud services and a subsidiary of the $2.75bn Altron Group, to co-sell and re-sell WANdisco's patented Live Data platform, WANdisco Fusion, as its standard cloud migration solution to UK customers. Bytes is Microsoft's largest partner in the UK and a Cloud Licensing Solutions EMEA Partner, with a market share of 35% for Microsoft Azure in the UK.”
Bytes' customers include leading brands such as Marks & Spencer, BBC, NHS, Clifford Chance, United Utilities and thousands more across the retail, media, finance, manufacturing, legal and the public sectors.
FYDec17E rev $12.86m, PBT Loss $5.99m.
Frontier IP Group (LON:FIPP) 93p £35.6m
“Frontier IP, which specialises in the commercialisation of university intellectual property, is pleased to announce that portfolio company Molendotech Limited, a spin-out company from the University of Plymouth, has entered into a collaboration agreement with Palintest Limited, a subsidiary of FTSE company Halma plc, for the development and licencing of water testing products.
Molendotech has developed a novel test which is able to identify the concentration of faecal bacteria in water. Molendotech's rapid, point-of-use test to determine water quality enables more informed decision-making about the use of water and significantly improves the ability to identify and track any pollution source.”
“Fishing Republic, the fishing tackle retailer, is pleased to announce that it has raised £1.3m (gross) through a placing of 13,000,000 new ordinary shares of 1p each at a price of 10p per placing share to new and existing shareholders, including directors.
The net proceeds of the Placing will be used to further advance and develop the Company's e-commerce operations, logistics and merchandising activities following the recent review of operations. It will also be used to provide additional working capital to accelerate the rate of growth of online sales.”
FYDec17E rev £9m, PBT £0.5m.
DP Poland (LON:DPP) 40.50p £61.02
2017 Trading update from the exclusive rights holder to develop, operate and sub-franchise Domino's Pizza stores in Poland.
* Total System Sales up 51% to 58m PLN 2017 (39m PLN 2016)
* 17% like-for-like growth in System Sales 2017 on 2016
* 75% of delivery sales ordered online
* 21st consecutive quarter of double digit like-for-like System Sales growt
* Store numbers in 2017 increased from 35 to 54 stores, with 55 stores open to date
* The second commissary in Łodz is fully operational and performing well
FYDec17E rev £11.03m and £1.96m pre-tax loss.