IPO corner: Four ASX listings scheduled in October

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IPO corner: Four ASX listings scheduled in October

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 IPO corner: Four ASX listings scheduled in October
Image source: © Jojojojo | Megapixl.com

Highlights

  • The year 2022 has seen several challenges, such as the red-hot inflation

  • The IPO market has performed relatively weaker than in 2021

COVID-19 lockdowns earlier in the year, geopolitical tensions, and rising inflation have taken a toll on the ASX IPO market. As of 30 June 2022, fewer companies registered a listing date with the ASX compared to the corresponding period in 2021.

“At this stage, it seems unlikely that the IPO market in 2022 will come anywhere near the amount raised or the number of listings that we saw last year,” said Marcus Ohm, the author of the HLB Mann Judd IPO Watch Australia mid-year report.

Meanwhile, the Australian share market ended past week on a muted note, shedding 1.4% on Friday. The benchmark ASX 200 fell 1.8% for the week and finished at fresh 3-month lows. The benchmark was dragged down by tech, industrials, consumer discretionary and financials stocks.

Here, we look at the four IPOs which are set to list on the ASX in October.

Bridge SaaS Ltd (ASX:BGE)

Bridge SaaS claims to provide Software-as-a-Service- (SaaS) based Customer Relationship Management (CRM) and workflow solutions to its customers. The IPO’s listing date is 4 October 2022, 12 PM (AEST).  

  • The company had earlier raised AU$4.5 million through a public offering.
  • The issue price was set at AU$0.20 for the capital raise.
  • MOLO Capital and Pulse Markets Pty Ltd. were the joint lead managers for the public offering.

Bubalus Resources Ltd (ASX:BUS)

Bubalus Resources is a mineral exploration and mining company. According to the official website, the company is “focussed on the exploration and development of the Amadeus Project (prospective for manganese), the Coomarie Project (prospective for heavy rare earths), the Nolans East Project (prospective for light rare earths), and the Pargee Project (prospective for Heavy Rare Earths), which are located in premier geological provinces of the Northern Territory and Western Australia.”

According to the ASX’s official website, the listing date of the public offering has been fixed as 13 October 2022.  

Source Certain International Ltd (ASX:SC1)

Source Certain International describes itself as “Australia's leading provenance testing service.”

Omega Oil & Gas Ltd (ASX:OMA)

Omega Oil & Gas is a gas exploration and oil production company.

Note:

  • ASX codes are proposed only. The data has been procured from the ASX IPO website.
  • 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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