3 Upcoming IPOs/ listings with over $5 million capital raising


A first sale of the stock by a private company to the public is done through an Initial Public Offering (IPO), and this is achieved by selling shares of the company to the public to fund the business’ expansion plans. Using the services of an investment bank to raise investment capital is known as underwriting during an IPO. Here are few of the companies that are raising capital and are up for listing on ASX.

AMD Resources Limited (Proposed ASX Code: ADM) with a diversified portfolio of exploration projects with early-stage production potential located in Australia and Papua New Guinea (PNG), is a precious metals-focused resources company. The company has valuable associated by-product projects and an attractive and diversified portfolio of precious metal. To become a leading Papua New Guinea and Australia based mining company is the group’s vision. The company’s projects are Normanby Island Milne Bay Province, PNG, Cumberland, QLD, Australia, Ok Tedi River Heavy minerals in Western Province, PNG, Compass Creek NT, Australia, and Sudest Island Milne Bay province, PNG. Significantly building the material value of its assets, the company has spent over $12 million on its project portfolio. The company’s founding executive director of Chamber of Mines and Petroleum Greg Anderson has been recognized in this year’s Queen’s Birthday Honours. It slated for a capital raise of $20.3 million at an issue price of $0.50 and was said to trade from August 06, 2018.

Black Dragon Gold Corp. (Proposed ASX Code: BDG) through its wholly-owned subsidiary EMC, owns 100% of the Salave gold project in the Asturias region of Spain. The company lodged a prospectus dated July 12, 2018, to raise a minimum of A$4 million and up to a maximum of A$6 million and to undertake a secondary on the Australian Securities Exchange. The offering will consist of 20,000,000 CDIs at a price of A$0.20 per CDI and was to list on August 06, 2018. A restructure of debt from a $10 million to $3 million and a limited royalty has been successfully arranged by the Black Dragon Gold. Black Dragon’s current market capitalization is of $16.5 million, against the earlier figure of over $90 million.

Sultan Resources Ltd (Proposed ASX Code: SLZ) is into mineral exploration, and has come up with an offer for 22,500,000 shares at an issue price of $0.20 per share to raise a minimum of $4.5 million to $5 million, and the company lodged the prospectus with the Australian Securities and Investment Commission, as at June 12, 2018. The company has various projects which are East Tallering project, Dalwallinu Project, Thaduna Project and Lake Grace project. For a maximum raising of up to $5,000,000 (Offer), the group has the ability to offer up to a further 2,500,000 Shares, to raise a further $500,000. Based on the minimum subscription being achieved, the expenses of the offer will be approximately $194,769. The minimum subscription is achieved, after deducting the expenses of the Offer and Lead Manager fees, and the company is expected to have cash of approximately $4.18 million. The group’s proposed listing date is 07 August 2018.

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