2 Upcoming Floats – AN1 And JOB

2 Upcoming Floats - AN1 And JOB

These below mentioned companies are in the process of raising capital through the Initial Public Offer (IPO) which is expected to close in March 2019. Soon after closing the offer, the shares of these companies will start trading on ASX.

Australian Nutrition & Sports Limited (Proposed ASX Code: AN1)

Founded in 2006, Australian Nutrition & Sports Limited (Proposed ASX Code: AN1) is an Australian company which is involved in the development, sourcing, and marketing of high-quality Australian made consumer food and nutrition products. The company is currently focused on infant and adult milk formula products, dried dairy products, and protein supplements. 

The company has recently lodged its replacement prospectus to issue 40 million Shares at an issue price of $0.20 each to raise up to $8 million before costs (Public Offer), with a minimum subscription required to raise at least $5 million.

The Prospectus also contains additional offers which includes-

 (a) 1,250,000 Shares and up to 1,600,000 New Options to the Consultant (and/or its nominees) (Consultant Offer);

 (b) up to 4,500,000 Shares to the Lead Manager (and/or its nominees) (Lead Manager Offer); and

  1. c) 10,000,000 Performance Rights to the Managers (and/or their nominees) (Management Offer).

The offer was opened on 22 February 2019, and it will close on 15 March 2019. It is expected that the company’s shares will commence trading on the ASX on 3 April 2019.

The company’s business model is to develop and brand its high-quality products for the market segments in which it operates. After that the company seeking to develop its distribution channels for the profitable sale of the products. For the full year ended 30 June 2018, the company reported total revenue of $502,042, including sales revenue of $419,260. As at 30 June 2018, the company had a cash balance of $304,024, total assets of $1,086,480 and total liabilities of $2,802,858.

Jobstore Group Limited (Proposed ASX Code: JOB)

Jobstore Group Limited (Proposed ASX Code: JOB) is a leading job distribution and job search platform which is operating in Australia and various Asia Pacific countries. The company generates revenue from three different products – Talent Sourcing Platform, Application Tracking System, and HCM Platform.

The company has recently lodged a second supplementary prospectus with ASIC to raise up to $8 million through the issue of up to 40 million Shares at an offer price of $0.20 each under this Prospectus. The minimum subscription under the Offer is $6.6 million by the issue of 33 million Shares. And, the maximum subscription under the Offer is $8 million by the issue of 40 million Shares.

The offer will be closed on 15 March 2019 with the issue of shares expected on 29 March 2019. The Shares are expected to begin trading on a normal settlement basis on or around 5 April 2019.

The company is planning to allocate around $1.2 million of the proceeds from the Offer towards expanding its Australia operations. Of this, approximately $200,000 will be invested into job distribution partnerships to acquire additional qualified applicants, $380,000 will be invested into brand awareness building in the country, and $380,000 into online traffic promotion. The company is also planning to launch the Application Tracking System followed by the HCM Platform in Australia within 12 months from Listing. The company is also planning to use $240,000 for the launch of these products and the associated marketing campaigns during the next 24 months which includes building brand awareness.


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