IPO corner: ASX listings scheduled in August's first two weeks

3 min read | August 01, 2022 02:37 PM AEST | By Ashish

IPO corner: ASX listings scheduled in August's first two weeks — Image source: © Maxxyustas | Megapixl.com

Highlights

The Australian IPO market has faced challenges in 2022.

Rising inflation, interest rate hikes and geopolitical uncertainty have impacted the market.

Challenges continue to weigh on the IPO market in the second half of the year too.

Even as Australia’s initial public offering (IPO) market began the year 2022 on a strong note, the broader share market downturn negatively impacted investor sentiment creating challenges for the companies seeking to raise capital. Rising inflation, interest rate hikes and geopolitical uncertainty have mainly contributed to the overall weakness in the market in 2022.

There were just 59 new public offerings in the first half of 2022, compared to 61 in the corresponding period last year. The number of IPO listings stood at 130 in the second half of 2021.

Challenges continue to weigh on the IPO market in the second half of the year too. The number of companies that are scheduled to be listed (in the second half) on the ASX as on 30 June 2022 is sharply lower than that of the corresponding period last year. Additionally, the total capital that the companies are planning to raise is AU$121 million compared to AU$1.25 billion at the end of June last year.

Here, we look at public offerings which are set to list on the ASX in the first two weeks of August.

Chalkos Metals Ltd (ASX:CKM)

Chalkos Metals is a mineral exploration firm. Chalkos is largely focused on the copper and base metal deposits. Chalkos’ listing date is 10 August 2022 at 11 AM (AEST), according to the latest data on the ASX. Chalkos raised AU$8 million at an issue price of AU$0.20. The offer is not underwritten. The mining exploration firm appointed Viridian Capital Pty Ltd as its lead manager.

Bayrock Resources Ltd (ASX:BAY)

Bayrock Resources is a battery metals firm. The company develops and produces cobalt, nickel, copper, and palladium. The IPO of Bayrock Resources is set to be listed on the ASX on 11 August 2022 at 11 AM (AEST). The company’s public offering raised AU$12 million at an issue price of AU$0.20 per share. The offer is not underwritten. Bayrock Resources had appointed RFC Ambrian Ltd as its lead manager.

Australia Sunny Glass Group Ltd (ASX:AG1)

Australia Sunny Glass is an Australia-based holding company, which runs glass production and the supply business. Australia Sunny Glass Group’s public offering is scheduled to be listed on 12 August. The company raised AU$7.5 million at an issue price of AU$0.35 per share. The offer is partially underwritten. Bayrock Resources had appointed Townshend Capital Pty Ltd as its underwriter and lead manager.

Note:

ASX codes are proposed only.
Listing dates are proposed dates for the first quotation of securities set out in the entity's prospectus or information memorandum and are subject to change without notice.
Listing dates are expected dates for the first quotation of securities set by the ASX after the completion of admission procedures. These could change without any notice.

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