What’s happening in IPOs
This article appeared in the May 2012 edition of the Listed @ ASX newsletter.
Improving signs suggest stronger second quarter for floats.
Eleven companies* successfully completed an initial public offering (IPO) and listed on the Australian Securities Exchange in the first quarter of calendar-year 2012. They included:
• A $3-million offer from Cassini Resources, which has Western Australian exploration projects.
• A $6-million offer from Red Gum Resources, to develop precious and base metal projects in Chile and Peru.
• A $9-million offer from Sunbird Energy, a South Africa-focused coal bed methane gas explorer.
• A $7.5-million offer from Blue Sky Alternative Investments, a diversified fund manager of alternative investments.
• A $3-million offer from Cohiba Minerals, which has interests in projects in mid-west Western Australia.
• A $7.5-million offer from Taruga Gold, which has exploration projects in Niger, Ghana and Cote d’Ivoire, in Africa.
• A $4-million offer from Highfield Resources, a potash exploration company with tenements in northern Western Australia.
• A $4-million offer from Pura Vida Energy, a Morocco-focused oil explorer.
• A $4.5-million offer from Goodrich Resources, which is developing projects in the Lachlan Fold Belt in New South Wales, and others in the Northern Territory.
• A $7-million offer from Indus Coal, an Indonesia-focused coal explorer.
• A $3.2-million offer from Spencer Resources, a diversified minerals explorer with Queensland and South Australian tenements.
The second quarter looks stronger than the first for IPOs. Thirty-one companies had applied for admission to the official list of ASX in April 2012. Larger IPOs included:
• A $75-million offer from shale-gas explorer, Armour Energy.
• A $34-million offer from Cuesta Coal, which has coal exploration projects in Queensland.
• A $40-million offer for US-based medical-device company, Ventus Medical Inc.
• A $20-million offer for US-based medical-device company, Osprey Medical Inc.
• A $15.7-million offer for Goldfields Credit Union, a Kalgoorlie-based financial services organisation that is demutualising.
• A $12-million offer for Romania-focused oil and gas explorer, Zeta Petroleum plc.
• A $7-million offer for Allegiance Coal, a Queensland coal explorer.
Upcoming Floats has more information on latest ASX IPOs; New Listings provides information on recent floats. ASX Companies provides information for companies looking to list on ASX.
* Only includes listings that raised equity capital.
Information provided is for educational purposes and does not constitute financial product advice. You should obtain independent advice from an Australian financial services licensee before making any financial decisions. Although ASX Limited ABN 98 008 624 691 and its related bodies corporate (‘ASX’) has made every effort to ensure the accuracy of the information as at the date of publication, ASX does not give any warranty or representation as to the accuracy, reliability or completeness of the information. To the extent permitted by law, ASX and its employees, officers and contractors shall not be liable for any loss or damage arising in any way (including by way of negligence) from or in connection with any information provided or omitted or from any one acting or refraining to act in reliance on this information. This document is not a substitute for the Operating Rules of the relevant ASX entity and in the case of any inconsistency, the Operating Rules prevail.
© Copyright 2013 ASX Limited ABN 98 008 624 691. All rights reserved 2013.
© 2013 ASX Limited ABN 98 008 624 691