Flashback of 2019 IPOs; 2020 Agenda

  • Jan 18, 2020 AEDT
  • Team Kalkine
Flashback of 2019 IPOs; 2020 Agenda

When there is a need for a company to raise capital, it generally goes for two options. One is through debt, and the other is by raising capital through equity. If a company is raising capital for the first time through equity, it is called Initial Public Offering or IPO. In an initial public offering (IPO) or “float”, securities in an entity are offered to the public for the first time and the entity is listed on a stock exchange, enabling its securities to be quoted and traded on that exchange.

It is generally difficult to buy shares of a private company. One can approach the owners of a private company, but it is not mandatory that they will sell part of their share. On the other hand, public companies have sold at least a portion of themselves in the market; therefore, launching an IPO is also referred as "going public." Public companies are subject to strict rules and regulations and have thousands of shareholders. They must report financial information every quarter and must have a board of directors. In Australia, public companies report to the Australian Securities & Investments Commission (ASIC). Like any other commodity, a public company’s stock is traded in the open market, and if you have the funds, you can invest.

Let’s have a look at some of the IPO’s of 2019.

Splitit Payments Limited (ASX:SPT)

Splitit Payments Limited is a technology company that provides international credit card-based payment solutions to retailers and businesses.

Splitit Registers with AUSTRAC to Provide Factoring Services

A monthly instalment payments solution business, Splitit Payments Ltd has registered with AUSTRAC to provide factoring services to merchants and grow its funded merchant model in Australia. The company has also utilised half its interim financing facility with Shaked due to rapid growth.

  • The company has depleted about US$4 million from its interim financing facility as it continues to grow its funded merchant business model;
  • By registering with AUSTRAC, the company will directly provide funded model to merchants in Australia after pre-requisite vetting and underwriting.

Stock Performance

The stock of SPT closed the day’s trading at $0.670 per share on 17 January 2020, in line with the previous closing price. The company has a market capitalisation of $208.73 million and 311.53 million outstanding shares. SPT has a 52-week low and high is $0.305 and $2.000, respectively. The company has given a total return of 35.35% in the time period of six months.

Uniti Group Limited (ASX: UWL)

Uniti Group Limited provides internet and associated telecommunications products and services.

Recently, the company acquired 1300 Holdings Pty Ltd. This acquisition is complementary to the company’s Speciality Services pillar and is forecast to deliver material additional earnings to the Group in FY20. The company expects that the 1300 business will be 28% EBITDA per share accretive in FY20, based on the addition of $12 million EBITDA, including certain identified cost savings, on a proforma basis.

Stock Performance

The stock of UWL closed the day’s trading at $1.595 per share on 17 January 2020, down by 0.312% from its previous closing price. The company has a market capitalisation of $518.01 million and 323.76 total outstanding shares. UWL’s 52-week low and high is $0.162 and $1.887, respectively. The company has given a total return of 30.12% in the time period of six months.

Let us have a look at some of the upcoming IPOs on the ASX (Australian Securities Exchange).

Emerald Clinics Limited

Emerald Clinics Limited manages a group of expert medical clinics and utilizes purpose-built technology and software to capture clinical data from patients, post their consent. The anonymised data is commercialised as clinical proof.

The company is planning to raise a minimum of $6 million and a maximum of $8 million (before costs) by issuing at least 30 million shares and up to 40 million shares at a consideration of $0.20 per share, respectively. The offer is expected to close on 17 January 2020.

Funds raised would be directed towards the operation and expansion of the clinics. Moreover, the company would use the funds for data platform development, general administration fees and working capital.

Proposed ASX code: EMD

Proposed listing date: 07 February 2020

thedocyard Limited

thedocyard Limited is a cloud-based deal space built specifically for managing the entire lifecycle of any corporate or commercial transaction.

The company is planning to raise $5,000,000 by issuing ordinary fully paid shares at a consideration of $0.20 per share. The offer is likely to be sealed on 31 January 2020.

The funds raised would be directed towards expanding the sales and marketing and customer acquisition operations of the company.

Proposed ASX code for thedocyard: TDY

Proposed listing date: 14 February 2020

Castile Resources Ltd

Castile Resources Ltd is engaged in the mineral exploration and development business in NT (Northern Territory). The company is set to get demerged from its parent, Westgold Resources Limited, and in order to operate as an independent entity and carry out its exploration and development operations, it plans to issue ordinary fully paid shares for a consideration of $0.20 per share. The minimum and full subscription under the offer is 55 million and approximately 99.84 million shares, to raise $11 million and nearly $19.97 million before costs, respectively. The offer is scheduled to close on 10 January 2020. The underwriter for the company is Canaccord Genuity (Australia) Limited.

Important dates (Source: Company Reports)

Proposed ASX code: CST

Proposed listing date: 29 January 2020

Little Green Pharma Ltd

Little Green Pharma Ltd operates a vertically integrated medicinal cannabis business comprising cultivation, production, research and development, manufacturing, and distribution of medicinal cannabis products. The medicinal cannabis industry is growing at a decent rate in Australia and Little Green Pharma intends to grab this opportunity.

The Company is offering up to 22,222,222 new Shares at an issue price of $0.45 each to raise a minimum of $5,000,000 and a maximum of $10,000,000.

  • The company’s current product collection includes the “Classic” line oral medicinal cannabis products that provides three oil creations with various THC:CBD ratios;
  • The company has sold more than 4,500 units of product ever since the launch with about 45% of patients u. In addition to oil-based products, the company is also able to generate dry cannabis flower meeting TGO93 needs;
  • Interest for dry cannabis flower has been conveyed from distributors in European markets.

Proposed ASX code: LGP

Proposed listing date: 7 February 2020

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