Clarity Pharmaceuticals’ IPO: why should New Zealanders be interested in this Australian stock?

Summary 

  • Clarity Pharmaceuticals would launch its IPO next month with 7 million shares.
  • Interest retail investors can invest from 3 August to 10 August, the price of each share being AU$1.40.
  • The Company is most likely to commence trading on the ASX from 25 August.

Regular and seasoned investors are always on the outlook for trading shares in growth-oriented and fundamentally strong companies. Many Kiwi investors expand their stock portfolio by investing in companies across the trans-Tasman border.

Moreover, the Australian stock market boasts some of the most dynamic and well-renowned companies across the APAC region.

One of the easiest ways to get exposure to Australian shares is to either invest through funds or taking up individual shares of the companies.

One such famous Aussie company, which is making heads turn with its recent announcement of going public by launching its IPO is Clarity Pharmaceuticals Ltd.

Read: What is an IPO? Why does a company go public?

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A little information about the company to be introduced on ASX

Based on SAR Technology, Clarity Pharmaceuticals is a radiopharmaceutical company that focuses on building therapy and imaging products to help in the treatment of patients suffering from cancer.

Know about the upcoming IPO

Clarity Pharmaceuticals is all set to launch its IPO and get listed on the Australian Securities Exchange (ASX).

Must Read: Would these 10 upcoming global IPOs make their mark in the market?

It had recently filed its documents with the Australian Securities and Investments Commission (ASIC) to get listed on the ASX with a ticker code of CU6.

The Company is planning to raise capital worth AU$92 million at a share price of AU$1.40 each.

Its retail offer would open on 3 August, the closing date of which is 10 August. The Company is likely to commence its trading on the ASX from 25 August onwards.

An estimate of 65.7 million shares would be available under the offer, with a target market capitalisation of AU$358.6 million. As per reports, 70% of the book is already locked with a tight competition for the remaining shares.

Further, the Company has appointed Jefferies and Bell Potter Securities Limited as its lead managers.

The two are already in talks with numerous institutional investors for the above-mentioned capital raising. Also, GenesisCare, which is Australia’s leading provider of cancer-related services and, at the same time, is an existing investor, would also participate in the said capital raising.

Interesting Read: Excited about investing in IPOs? Here are few dos and don’ts

Previous funding

It is noted that earlier in 2020, in its pre-IPO funding round for AU$25 million, many big names such as Sydney-based fund manager Firetrail Investments, Australian Unity, and GenesisCare invested in Clarity.

Investing in Clarity’s IPO

In order to invest in Clarity Pharmaceuticals’ IPO, one must get registered with the participating lead managers. One can also buy shares in the Company once it goes public, for which getting associated with a share trading platform is required.

Also Read: How Do I Find Out About an IPO?

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