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A few IPOs are scheduled to be listed on the ASX in May
In 2021, more than 240 companies launched their IPOs.
Demetallica and TG Metals made their ASX debut today.
There are over five initial public offerings (IPOs) which are scheduled to be listed in May. In 2021, more than 240 companies launched their IPOs, making it a record year for public listings. Over 30 odd firms are likely to list on the ASX before the end of this year.
On this note, let’s discuss a few key things about two resources companies whose shares are listing on the ASX today:
Demetallica Ltd (ASX:DRM)
Demetallica is an Australian minerals exploration company whose shares listed on the Australian Securities Exchange (ASX) under code DRM at 11AM (AEST) today. The shares opened at AU$0.26, almost flat from the issue price of AU$0.25.
The mineral explorer successfully raised AU$15 million (before costs) via its IPO at 25 cents per share from investors. The total number of shares available under the offer were in the range of 48,000,000 to 60,000,000.
The company has 3,830 shareholders. Euroz Hartleys and Argonaut were the lead managers for the company’s public offering.
The company holds 100% interest in the following projects:
Demetallica’s main objectives behind listing were to focus on mineral exploration and other resource opportunities that have the potential to deliver growth for shareholders and to pursue other acquisitions.
TG Metals Ltd (ASX:TG6)
TG Metals is a mineral resource exploration company, with the principal aim of exploring and developing a portfolio of exploration properties in the Lake Johnston Greenstone Belt of Western Australia.
The company’s shares listed on the ASX under code TG6 at 1 PM (AEST) today. The shares opened at flat from the issue price of AU$0.20.
TG Metals launched an IPO last month to raise AU$6 million through the issue of 30 million shares at AU$0.20 each. The IPO’s lead managers were – Barclay Wells and Trident Capital (which were corporate advisors) and AGH Law (legal counsel).
The company would use the raised capital to explore its base metals, lithium and gold projects located within the Lake Johnston Greenstone Belt, which runs between the prolific gold- and nickel-producing Norseman-Wiluna and Southern Cross greenstone belts in WA.
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