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Dish of the day
Thalassa (AIM:THAL) subsidiary Anemoi has joined the Standard Segment of the Official List under the ticker “AMOI”. Anemoi has been set up as a Special Purpose Acquisition Company (SPAC) with the intention of acquiring a significant operating company, which the board believes to be undervalued and which offers significant potential capital upside.
Off the menu
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What’s cooking in the IPO kitchen?
Verici DX—developer of advanced clinical diagnostics for organ transplant, intends to apply to have its issued share capital, as enlarged by a proposed placing, subscription . The Restricted Offer is only available to certain persons, being persons who held the beneficial title to any A Shares of £0.001 each in the capital of the Company on 10 July 2020 (the “Record Date”) whose registered address is in the UK (being persons recorded on the register of members of Renalytix AI plc on 9 July 2020). £14.5m fundraise. Mkt Cap c.£28.3m. Due 3 November
SourceBio International to list on AIM. Offer TBC. Due 29 Oct. Press reports suggest raise of up to £35m. Services include Healthcare Diagnostics, Genomics, Stability Storage and infectious Disease Testing – since May 2020, the Group has provided COVID-19 Antigen RT-PCR testing services.
SDIC Holdings a leading power generation company in China is to list on the standard segment of the Official List and to trading on the Shanghai-London Stock Connect segment of the main market for listed securities of London Stock Exchange. Due on or around 22 Oct. Gross proceeds from the Offering are expected to amount to between approximately USD 220 million and USD 240 million. The proceeds will be used for expanding the Group’s renewable energy business overseas and repaying the Group’s offshore indebtedness.
Round Hill Music Royalty fund to IPO on the Specialist Fund Segment of the Main Market of the London Stock Exchange, by way of a placing and offer for subscription targeting the issue of 375 million ordinary shares at an issue price of US$1.00 per Ordinary Share. The Company’s Investment Objective is to provide investors with an attractive level of regular and growing income and capital returns from investment primarily in high quality, music intellectual property. Due mid-November.
Meritwell II intends to list on the Specialist Funds Segment of the LSE raising up to £250m. The Placing will provide UK institutions with the opportunity to “swap” illiquid holdings which have become time and resource consuming holdings, at their bid price, in return for ordinary shares in the Company. Due 26 Oct.
Mailbox REIT PLC , a newly formed single asset company which owns the Mailbox , a large prime office-led mixed use property in Birmingham which has been independently valued at £179m, announced its intention to raise up to £62.5m MailBox REIT will apply for the Ordinary Shares be admitted to trading on the IPSX Prime segment of International Property Securities Exchange (IPSX ). IPSX is a new Regulated Investment Exchange regulated by the FCA and is the world’s first such exchange dedicated to the initial public offering and secondary market trading of companies owning single institutional grade real estate assets and multiple assets with commonality. Due November.
Tirupati Graphite, the fully-integrated, cash generative, specialist graphite and graphene producer with operations in Madagascar and India, announced its potential intention to undertake an initial public offering on the LSE (standard listing). Timing tbc
Buffettology Smaller Companies Investment Trust— Buffettology is seeking to raise a minimum of £100m via an initial placing, an offer for subscription and an intermediaries offer on the Main Market. will be the Investment Manager to the Company, led by Keith Ashworth-Lord (CIO of Sanford Deland Asset Management Limited). Sanford DeLand manages approximately £1.4bn across two open ended funds, the CFP SDL UK Buffettology Fund and the Free Spirit® Fund. Due 29 October.
Wheaton precious Metals (TSX:WPM) – Proposed secondary listing on bringing one of the world’s largest precious metal streaming companies to the London Stock Exchange. Due Q4 2020.
Umuthi Healthcare Solutions Plc, the technology led healthcare business focused on the distribution of pharmaceuticals and the provision of medical facilities in remote areas, seeking admission to the Standard Listing segment of the Official List. Timing tbc
Kibo Energy PLC (LON:KIBO), the multi-asset Africa focused energy Company, is seeking admission for its 100% owned UK subsidiary Sloane Developments Ltd , which will be renamed Mast Energy Developments PLC (MED), to the Standard List of the London Stock Exchange plc. Targeted for Q4 2020. The MED business strategy is to acquire and develop a portfolio of flexible small-scale power generation assets, exploiting a growth niche market in the UK for Reserve Power generation to balance out the national grid at critical times.
Vast Resources 0.165p £22m (AIM:VAST)
£1,751,200 (gross) Placing at 0.16p per share to provide additional working capital following recent cash settlement of Conversion Notice and funding through to payment in full from first copper sales to Mercuria.
Port delivery early November 2020 of 350-400 tonnes of copper concentrate from Baita Plai Polymetallic Mine (‘Baita Plai’) in Romania, being the October sales delivery targets referred to in the announcement of 22 October 2020.
JORC Reserve & Resource report for Baita Plai remains expected by the end of this week
Further progress with asset backed debt financing:
Independent technical consultants site visit to Baita Plai has been completed and independent environmental consultants have confirmed to undertake site visit at Baita Plai on Monday 26 October 2020.
Binding Term Sheet with international banking institution targeted to be signed by the end of November 2020 with final approvals in December 2020.
Allergy Therapeutics 13.25p £85m (AIM:AGY)
The fully integrated commercial biotechnology company specialising in allergy vaccines, today announces the screening of the first patient in its exploratory field study (G309) to evaluate the efficacy and safety of Grass MATA MPL in subjects with seasonal allergic rhinitis and/or rhinoconjunctivitis induced by grass pollen exposure. Grass MATA MPL is a short course, aluminium-free allergen-specific immunotherapy that aims to address the cause of symptoms of allergic rhinoconjunctivitis due to grass pollen.
Driver Group 49.5p £25.8m (AIM:DRV)
Global professional services consultancy to the construction and engineering industries, providing multi-disciplinary consultancy services including expert witness, claims and dispute resolution services, today announces an operational update on its activities.
Since January 2020 Driver Group has been managing the impact of Covid-19 on the business and by adopting a flexible home working model has continued to service its clients effectively and sustainably with the minimum of business interruption. Activity levels overall have been broadly consistent with those achieved in the first half, with a strong performance in the UK and Europe offset by a weaker result in the Middle East and Asia Pacific regions. As a result, the Board expects in the absence of unforeseen circumstances to report underlying PBT for the financial year of approximately £2.5m. Cash conversion has been particularly strong in recent months resulting in a healthy net cash balance on 30 September 2020 of £8.2m.
Mirada 70p £6.24m (AIM:MIRA)
The provider of integrated software solutions for Digital TV operators and broadcasters, announced the commercial launch of its Android TV Operator Tier with custom launcher for Mexican operator, izzi.
This is expected to be one of the most relevant deployments of Android TV worldwide, resulting from a close collaboration between izzi, Google and Mirada.
This launch is the extension of izzi’s pay TV service from Linux set-top boxes, smartphones, tablets and laptops to highly sought-after Android TV hybrid set-top boxes. The service is based on Mirada’s Iris solution rather than Google’s generic user interface such that izzi’s brand identity and the subscribers’ viewing experience remains the same. It also enriches the default Android TV experience with premium functionalities of Mirada’s Iris solution.
Draper Esprit 590p £820m ([email protected])
The venture capital firm investing in and developing high growth digital technology businesses, today provides an update on recent developments in its portfolio.
Draper Esprit co-led the $50m Series B fundraising announced today by PrimaryBid, a technology platform that allows retail investors fair access to public companies raising capital. OMERS and London Stock Exchange Group co-led the round, alongside Fidelity, and existing investors Pentech and Outward VC among others.
In September, ICEYE, a World-leading Synthetic-Aperture Radar (SAR) data provider building and operating its own commercial constellation of radar imaging satellites, announced that it had raised $87 million in a Series C funding round earlier in the year. ICEYE is a Draper Esprit core portfolio company.
Draper Esprit invested as part of that round alongside other returning shareholders led by True Ventures and including cornerstone investor OTB Ventures, together with Finnish Industry Investment (Tesi), DNX Ventures, Draper Associates, Seraphim Capital, Promus Ventures and Space Angels. As reflected in Draper Esprit’s annual results in June 2020, the fair value holding in ICEYE increased at that time by approximately £6.4 million as a result of the fundraising to approximately £14 million.
Augmentum Fintech 124p £145m (LON:AUGM)
Retail offer and institutional placing to raise gross proceeds of up to approximately £28 million at 120p. Proceeds of the Fundraise are to be used to fund investments selected from the Company’s near-term qualified pipeline, which currently contains approximately £120 million of investment opportunities across all target sectors and geographies, and continues to grow.
ULS Technology 54.3p £35.2m (LON:ULS)
The provider of online B2B platforms for the UK conveyancing and financial intermediary markets, announces the forthcoming appointment of Jesper With-Fogstrup as Chief Executive Officer (“CEO”). Jesper will start his role and join the Board in early 2021.
Jesper (aged 46) has over 20 years’ experience within digital and technology platform businesses and is joining the Company from HSBC where he was Global Head of Digital as a Channel, prior to which he was COO of ComparetheMarket.com. We believe that Jesper’s knowledge and experience will enable us to capitalise on the early success of DigitalMove. Under his leadership we expect to build the preeminent customer centred seamless digital house moving and owning experience platform in the market. Our vision is that consumers will use this one platform to arrange the finance necessary to complete their house purchase, obtain the legal support needed to complete the transaction and select the insurance, utilities and other providers of services they need to run their home.
Advanced Oncotherapy 31.5p £96.5m (LON:AVO)
£7.7m equity raise at 30p by the developer of next-generation proton therapy systems for cancer treatment. The funds raised from the Subscription will further strengthen the Company’s balance sheet and contribute to the funding for progressing the assembly, documentation, verification and validation activities in order to ensure Advanced Oncotherapy’s first LIGHT system is fully operational with a 230MeV beam in 2021.
Proton Motor Power 60p £439m (LON:PPS)
The designer, developer and producer of fuel cells and fuel cell electric hybrid systems with a zero-carbon footprint, announces that it has signed an agreement with FRERK Aggregatebau GmbH http://www.frerk-aggregatebau.com/en/application-and-products/application as preferred supplier of fuel cell systems. FRERK is a world leading supplier of individual special solutions for power generation units for applications such as data centres, critical infrastructures, scheduled peak load and balancing power, combined heat and power plants, grid independent power supplies.
Ingenta 84.5p £14.17m (LON:ING)
The provider of innovative content solutions, further to its Interim Results dated 21 September 2020, that it has now secured three new customers for its Edify content publishing platform in 2020.
The contracts each have an initial 3-year term, with total combined fees in excess of $750K and include the option to extend in due course at the clients’ discretion. Two of the implementations will go live in 2020 as previously announced, and include a major global INGO content library and a brand-new UK clean energy knowledge database. The third, and newest contract, is with Research4Life which provides institutions in lower income countries with online access to academic and professional peer-reviewed content.
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