IPO listings: Six companies to make debut on ASX next week

Highlights

  • As many as six companies are slated to make their debut on the ASX next week.
  • Mineral explorer Aurum Resources is set to begin trading on 25 October.
  • C29 Metals, GQG Partners, RemSense Technologies will list their shares on the ASX on 26 October.
  • Green Technology Metals is set to debut on 28 October, while Cooper Metals is to join the ASX on 29 October.

The Australian IPO market seems to be taking a breather, as several deferred listings and weak debuts have poured cold water on a once-sizzling market. After more than 30 initial public offering (IPO) listings in September, twelve companies have filed prospectus to get listed on the Australian Securities Exchange (ASX) this month, as per information available on the exchange.

While some companies have already commenced trading on the ASX, including gold miner Diablo Resources (ASX: DBO), mineral explorer Minerals 260 (ASX: MI6), copper developer and explorer Recharge Metals (ASX: REC), six firms are slated to make their debut on the domestic bourse next week.

The list includes Aurum Resources, C29 Metals, Cooper Metals, GQG Partners Inc., Green Technology Metals, and RemSense Technologies.

Let’s examine all important details about these IPOs.  

C29 Metals

First on the list is Aussie copper exploration company C29 Metals (ASX: C29), which is slated to join the ASX on 26 October. 

The miner had proposed to raise AU$5 million at an offer price of 20 cents a share via IPO. Trident Capital was hired as lead manager for the offer, which opened for subscription between 13 September to 11 October 2021.

The company was incorporated on 19 October 2020 for the purpose of identifying, exploring and developing prospective copper, gold and base metal assets throughout Australia. Post listing, it intends to undertake systematic exploration activities on the projects and the acquisition, exploration and development of resource projects throughout Australia.

Cooper Metals

Another mineral exploration company scheduled to make its debut on the ASX next week is Cooper Metals (ASX: CPM). Shares of the company will commence trading on 29 October.

Cooper Metals had looked to raise up to AU$4.8 million at 20 cents a share vvia its initial public offering. It is a new Australia-based mineral exploration company focused on the discovery of copper and gold.

It owns three highly prospective projects in Australia. The company’s flagship projects include Mt Isa East in Queensland, followed by the Yarmana and Gooroo gold projects in Western Australia.

GQG Partners Inc.

GQG Partners Inc (ASX: GQG) is another float looming next week, with its shares slated to begin trading on the ASX on 26 October.

The investment management company proposed to raise AU$13.06 million at an offer price of AU$2.20 apiece in its IPO. It is a boutique investment management firm headquartered in Ft. Lauderdale, United States.

The float is touted to be the largest of the year and is headed by UBS and Goldman Sachs.

The company operates four global equities investment strategies on behalf of clients such as Australian Super, Rest Super and Cbus. It will be a likely rival to Magellan, which is of similar size, although GQG is just five years old. It is focused on expanding its Australian exposure with a focus on growing its retail offering through financial advice networks.

Aurum Resources 

Mineral exploration company Aurum Resources (ASX: AUE) is slated to list its shares on the Australian Securities Exchange (ASX) on 25 October. Shares of the company were originally scheduled to list on 18 October, but it was deferred due to an undisclosed reason.

The company looked to raise AU$5 million at 20 cents a share in its initial public offering (IPO). The dates and prices may change, subject to market conditions. Xcel Capital was appointed as lead manager to the IPO, which opened for subscription between 31 August and 28 September 2021. 

The company was formed after Alidoro Resources (ASX:ARN) spinned out its wholly owned subsidiary Aurum Resources to facilitate the fast-tracking of exploration and possible development of the projects in the Western Australian gold projects. 

Green Technology Metals

Next is exploration and development company Green Technology Metals (ASX: GT1), which is slated to join the ASX on 28 October.

The Australia-based firm is expected to raise up to AU$24 million at 25 cents per share. Canaccord Genuity (Australia) and Bell Potter Securities were appointed as lead managers.

Green Technology Metals is a North America-focused Lithium exploration company based in Subiaco, Western Australia.

RemSense Technologies

Perth-based tech company RemSense Technologies (ASX: REM) is set to commence trading on the domestic exchange on 26 October. It had appointed Mac Equity Partners as lead manager to raise AU$5 million at 20 cents per share.

Formed in 2018, the company is specialised in technology development and systems engineering services across a range of markets and applications. Since inception, it has provided numerous bespoke technology solutions to clients and has also commercialised its first product borne out of  its Technology Development Service (TDaaS): Virtual Plant.

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