From 8 Au to Haranga: Six stocks to light up ASX board next week

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From 8 Au to Haranga: Six stocks to light up ASX board next week

6 IPOs including, Armanda Metals, Haranga Resources, to make debut on ASX next week
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Highlights

  • The Australian IPO market continues to see a barrage of new listings in the month of December.
  • More than 30 companies have filed prospectus to join the ASX in the last month of the year.
  • Six companies, including Armanda Metals, Haranga Resources, 8 Au, etc., are set to join the ASX next week.

The year 2021 has proved to be a decent year for the Australian share market, but when it comes to initial public offerings (IPOs), it has been a surprisingly sweet year. Even with COVID-19 restrictions that disrupted the Australian economy, the domestic IPO market has flourished, with a barrage of stocks joining the local share market in the last 11 months.

The year saw a healthy IPO momentum rolling throughout the year, with 85 companies making their debut on the ASX during the first six months of 2021. Capital worth AU$3.5 billion was raised by these companies, while they listed with a combined market capitalisation of AU$22.8 billion. The momentum picked up steam in the second half, with 108 companies hitting the ASX board between July and November of this calendar year.

With Christmas just around the corner, Santa is out to cheer Aussie investors with a long list of IPOs. More than 30 companies have filed a prospectus with the Australian Securities and Investments Commission (ASIC) to list their shares on the Australian Securities Exchange (ASX) in the final month of the year, while some of them have already joined the board.

On this note, let us track new shares that are geared up to join the ASX next week:

8 Au  

A new exploration company, 8 Au (ASX: 8AU) is set to soon join the Australian Securities Exchange (ASX). The resources company was slated to list its shares on the domestic exchange on 3 December 2021, but it was deferred due to undisclosed reasons. The shares are now expected to begin trading on 17 December with a market capitalisation of around AU$19 million. 

The company has raised AU$12 million at 20 cents a share in its initial public offering (IPO) for the development of its Western Australia-based exploration projects. The company holds interest in a range of projects throughout WA, including the East Pilbara Gold Project, the Yallalong Ni & Cu Project, and the Plumridge Gold Project.

Armanda Metals

Next on the list is a mining company named Armada Metals (ASX: AMM), which enjoyed an oversubscribed IPO. The company raised AU$10 million at an offer price of AU$0.20 apiece. The company is engaged in the exploration of key commodities such as nickel and copper in African regions.

Armada’s IPO, which opened between 17 November and 24 November, received strong support from investors such as AIM, Metal Tiger, and other leading investors. Retail investors can buy shares from 15 December, when the company will list its shares on the ASX.

AVADA Group

Australian traffic management operating company AVADA Group (ASX: AVD) has undertaken an IPO to raise AU$32.5 million via the issue of 32.5 million shares at an offer price of AU$1 per share.

The company is pegged to begin trading publicly on the ASX on 16 December 2021. On listing, the company will have an implied enterprise value of approximately AU$90 million at the offer price.

The company provides traffic management and control services, like traffic planning and permit, equipment hire, incidence response and others.

Black Mountain Energy

Energy company Black Mountain Energy (ASX: BME) has proposed to raise minimum AU$11 million via its IPO. Shares of the company are expected to commence trading on the ASX on 13 December 2021.

The oil and gas explorer proposed to issue 55 million shares at an offer price of 20 cents per share.

The company has hired Foster Stockbroking and CPS Capital as the joint lead managers, while EAS Advisers acted as the corporate advisor to the offer.

Haranga Resources

Haranga Resources (ASX: HAR), the homegrown gold exploration and development company, will be seen lighting up the ASX board soon. The Company is likely to commence trading on the Australian Stock Exchange on 13 December 2021.

The company seeks to raise AU$6.5 million at 20 cents a share in its initial public offering (IPO).

CPS Capital Group was appointed as lead manager to the offer, which opened between 8 November and 22 November 2021.

The Company owns two premier projects in West Africa –  the Issia Gold project and Saraya Uranium Project.

Infinity Mining

Renewable earth materials explorer Infinity Mining (ASX: IMI) is expected to commence trading on the ASX on 14 December to cash in on rising demand for nickel, base metals, copper, and gold.

The mineral explorer raised AU$10 million at an issue price of 20 cents apiece in its IPO. The proceeds will be used to implement the company’s business strategies to deliver short- to medium-term gold mining targets in and around mining blocks.  

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