3 Upcoming IPOs – Ecofibre Limited, Australian Industrial Minerals Limited, AltoStratos Holdings Limited

IPO

Ecofibre Limited (ASX Proposed Code: EOF)

Ecofibre Limited (ASX Proposed Code: EOF) was registered in 2009 and became a public company in 2018. The company and its subsidiaries are into the hemp industry in the United States and Australia. The company’s operations include production and sale of hemp-related nutraceutical products focused on the US. Production and sale of hemp-related food products in Australia. Development of innovative hemp related fibre products globally.

The company has issued the prospectus with the Australian Securities and Investments Commission (ASIC), in relation to of offer of between 15,000,000 and 20,000,000 Shares at an issue price of $1.00 per Share to raise between $15.0 Mn and $20.0 Mn. The Company will be listed on the ASX under the code EOF. Opening date of the Offer was 26 February 2019 and the closing date is 11 March 2019. It is expected to list on ASX market on 29 March 2019.

The total number of shares for the minimum subscription on an issue at the completion of the offer is 304,349,151; however, the maximum subscription can be up to 309,349,151. Percentage of Shares held by existing shareholders following the completion of the offer is 95.0% for the minimum subscription and 94.0% for the maximum subscription. The objective of the IPO is to fund the initial commercialisation of Ecofibre’s Hemp Black fibre technologies, including product development, sales and marketing, customer samples and other commercialisation expenses, and fulfil working capital needs.

Australian Industrial Minerals Limited (Proposed ASX Code: AAM)

Australian Industrial Minerals Limited (Proposed ASX Code: AAM) was established for the primary purpose of developing the Harts Range Project into a supplier of industrial abrasives. The management of the company is professionals of the mining industry with many years’ experience in the industrial abrasives market and the distribution of industrial abrasive products.

The company has issued the prospectus with the Australian Securities and Investments Commission (ASIC) on 8 February 2019, in relation to an offer of 20,000,000 Shares at an issue price of $0.25 per Share to raise $5 Mn. The offer was opened on 18 February 2019 and the close date of the public offer and broker offer is 8 March 2019. It is expected that it will be listed on ASX on 28 March 2019.

The company wants to utilize the funds primarily in the development and commissioning of the production facilities at the Harts Range Project, additional mobile mining and service equipment, and operating costs while building inventory stockpiles and fund initial sales debtors.

AltoStratos Holdings Limited (Proposed ASX Code: ATO)

AltoStratos Holdings Limited (Proposed ASX Code: ATO) was founded in June 2015 with the group assisting global I.T. brands in overcoming business-to-business and business-to-consumer supply chain and RTM challenges by developing and deploying customized, omnichannel RTM solutions.

Recently, the company has come up with an Initial Public Offering (IPO) which opened on 10 January 2019, and the closing date for the offer was 22 February 2019. It is expected to list on ASX market on 5 March 2019.

The amount to be raised under the minimum subscription of the offer is $16,000,000 with an offer price of $0.40 per Share. The total number of existing shares on issue prior to completion is 149,835,366. The maximum subscription amount can be raised is $25,000,000, with the maximum share issue of 62,500,000.

Additional funds raised beyond the minimum subscription will be combined with existing cash reserves to further increase the strength of the company’s balance sheet to fund ongoing operational costs of the company and, to the extent possible, to execute on the AltoStratos Group’s growth strategy.


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