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Initial Public Offering and/or Floats, IPO / Float Discussion
nipper
post Posted: May 3 2019, 01:05 PM
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QUOTE
Last year in Australia we had 159 IPOs and I'm looking at my colleagues who had a field day... It's the third-highest in the world behind the NASDAQ, and the Hong Kong Stock Exchange."
Shemara Wikramanayake, CEO, Macquarie Group




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Feb 1 2019, 12:33 PM
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QUOTE
Pengana Capital is aiming for an Australian first with the launch of a $250 million-$1 billion retail fund investing in a globally diversified portfolio of private equity assets.

The fund aims to give retail investors an exposure to an asset class that his historically been accessed only by institutions and ultra high-net worth investors who have the large sums required to participate in private equity funds...
....opens end-Feb; will be interesting to see how much they pull in.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Sep 10 2018, 09:14 AM
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I guess the opposite of a float is a sink
QUOTE
The number of Chinese companies looking to list in Australia has collapsed as more mainland entities are removed by the stock exchange for not meeting the nation's strict corporate governance and liquidity rules.

Last week, Winha Commerce and Trade became the fourth Chinese company to leave the Australian Securities Exchange this year. The first three were Premier Eastern Energy, Ding Sheng Xin Finance and China Dairy Corporation.

Winha's decision was the result of an agreement between the ASX and the company, which plans to remain public on the Sydney Stock Exchange.

The ASX last year delisted three Chinese-backed companies — Australia China Holdings, China Waste Corporation and Birch & Prestige Investment Group, which were the first in two years to be removed.

Three years ago the first Chinese casualties were U&D Coal and Fifth Element Resources.
"Vanity of vanities, all is vanity."



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Aug 14 2018, 03:46 PM
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Software play archTIS promises peak cybersecurity

  • archTIS

    ASX Code: AR9

    Shares on Offer: 50 million

    Listing Price: $0.20

    Market Cap: $26.6m

    Listing date: August 27
    QUOTE
    Canberra-based cybersecurity company archTIS is expected to list on the ASX on August 27 to commercialise cloud-based cybersecurity software solutions the company says are capable of holding "top secret" classified information.

    The name archTIS is an amalgam of the words architecture and TIS, the acronym for trusted information sharing. Historically, archTIS has generated revenues from consulting services to government clients, including the Australian Defence Department, and the delivery of these projects has resulted in total revenues of $13 million over the past six years.

    Post-listing, the company's primary focus will shift away from consulting and towards commercialising its software solutions, Kojensi and DataKloak, two cloud-based content-sharing and collaboration platforms targeted at government clients and large commercial corporations. These products are still in the development stage and most of the $10m raised funds will be used for ongoing product development, sales and marketing and general working capital.

    The purpose of Kojensi is to facilitate sharing of electronic information and enable privileged access to large corporations with different security clearance levels. In 2016, the Australian Department of Finance paid for a proof-of-concept trial of Kojensi.

    An investment in archTIS is highly speculative and there is no guarantee of future profitability as the company seeks to commercialise unproven IP in a highly competitive industry with few barriers to entry. Despite a 13-year track record, the company generated only $100,000 in revenue during FY17, essentially starting from scratch.

    To date, cybersecurity plays have performed poorly on the ASX — including Tesserent (TNT), Covata (CVT) or WhiteCliff (WHK) to name a few — IPO investors may be hoping that archTIS has a top secret plan to buck the trend.

    Simon Herrmann is an investment analyst at wise-owl.com




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Jun 5 2018, 08:01 PM
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In Reply To: nipper's post @ Jun 5 2018, 10:28 AM

QUOTE
- hey BlackSheeep - any connection?


Connection too Black Sheep Capital? No. Never heard of them before. Nice name choice though biggrin.gif
http://blacksheepcapital.com.au/#team





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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Jun 5 2018, 10:28 AM
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In Reply To: nipper's post @ Nov 13 2017, 04:56 PM

QUOTE
Airtasker was founded in 2012 and has created a community of 2 million people. It generates more than $100 million of transactions a year. In the past six years the company has raised $67 million from high-profile backers such as Seven West Media, SkyfieldCapital, Exto Partners, Morning Crest Capital and Black Sheep Capital.
https://www.afr.com/brand/boss/how-airtaske...20180427-h0zcvx

- hey BlackSheeep - any connection?



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: mullokintyre  
 


nipper
post Posted: Nov 13 2017, 04:56 PM
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QUOTE
Credible Labs has priced its initial public offering at $1.21 per share, taking its overall market value to $306.2 million. It plans to sell 13.1 million shares by way of Chess Depositary Interests (CDIs) for the offer, raising $67.8m. Proceeds will be used to pay out shareholders and for technology and platform development.

The San Francisco-based financial technology company was founded five years ago by former JP Morgan banker Stephen Dash and is an online consumer finance marketplace that allows shoppers to compare financial products. Credible Labs has partnerships with over 24 financial institutions and about 140 members and online marketing organisations.

There is also over $US1 billion in loan volume originated through the platform, predominantly in Student Loans and Student Loan Refinancing. So far it has 650,000 user accounts, 66 per cent of which are aged between 18 and 35.

Bell Potter is working on the float, and says in the company’s path finder that the total amount spent on US financial services marketing was $US8.8bn last year, and is expected to climb to $US13.6bn in 2020
Credible Labs began its roadshow on Friday and it will wind up by the end of the week. The book build will be held next Monday with the prospectus lodged the following day. On Friday December 8, CDIs will be distributed and trading will start on the Australian Securities Exchange that day.





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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Oct 2 2017, 10:26 PM
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QUOTE
..the Australian Securities Exchange [stated] last week it had more new listings than any other global exchanges in 2016 with 133 new listings compared with 42 on the Nasdaq. Forty new technology companies listed on the ASX in the year ended June 30.

Jeff Stewart, the co-founder of the Global Public Offering Fund says the US initial public offer market is dead and there are hundreds of start-ups eyeing exchanges in Australia and other parts of Asia to fund their growth.

Stewart, who is in Australia at the moment looking at opportunities for US funds, says it is almost impossible for a tech company to get a float worth less than $US3 billion ($3.8 billion) or $US4 billion under way in the United States. This means companies like Cisco, Oracle and even Amazon would not exist if they had tried to get a float away in their infancy in the current market.

His so-called GPO Fund is investing in companies worth between $US100 million and $US200 million with a view to listing them on the ASX and other exchanges in the region including Hong Kong and Singapore.

Stewart has some staggering data he uses to back up his commentary on the state of the US market. In 2016, there were only 18 US companies that raised less than $US50 million on the stockmarket compared with 557 in 1996. Part of the problem is that companies trying to go public in the US are prone to litigation and enormous expense. Floats are fewer but larger because by the time the company reaches a stage it can afford to list, it is mature. A lot of US tech companies are also finding capital privately through venture capital funds.

Read more: http://www.afr.com/brand/chanticleer/why-u...ustralia-201710




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Sep 9 2017, 12:34 PM
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SenSen Networks (not yet listed)
QUOTE
A few years ago the University of Technology Sydney hired tech boffin Subhash Challa to inject a little entrepreneurial flair into the thinking of its students. One would have to say he succeeded, because three years later the youthful professor quit to focus on commercialising SenSen, the "internet of things" play based on a platform developed within that centre of learning.

SenSen, which is raising $6.5m of capital ahead of a backdoor listing, has existing clients including NSW's Roads and Maritime Services (RMS), Crown Casino and Abu Dhabi Airport.

SenSen — which apparently means "a thousand times a thousand" in Japanese — is about software that extracts data from a video camera in real time. The resulting data means faster decision making and automated processing for customers. SenSen may well become a friend of investors, but it's a foe of speeding motorists and parking transgressors.

In 2011, SenSen won RMS as its first commercial customer, to operate its emerging network of point-to-point cameras (motorists are booked if their average speed over a given interval exceeds the speed limit).

"We came from nowhere to win a significant slice of that market," Challa says. Listed speed camera operator Redflex is a notable rival in that market. SenSen then modified the product for parking enforcement and it is used by a number of local councils.

The company also monitors double yellow-line offences for Singapore's Land Transport Authority and has the mandate for camera-based security at Abu Dhabi Airport, as well as Colonial First State's local shopping centres in Australia. It also counts passengers getting on and off Sydney's ferries.

Challa says the company had so many proposals that it decided to focus on the speed and parking markets — before another opportunity knocked.

"Crown heard about us and called us," Challa says. "They wanted to understand patron and staff behaviour at the tables."

SenSen modified the product, now called SenGame, to extract data from table cameras such as occupancy rates, hands per hour and bet types. SenGame is used on 200 tables at Crown's Melbourne money den and is likely to be expanded to Crown's Burswood facility in Perth. Given Crown helped developed the product, Crown gets a royalty if other casinos adopt the product.

SenSen's revenues have been modest to date: around $500,000 in 2014-15, $1.1m in 2015-16 and a likely $2m in 2016-17 (subject to audit). In the case of the point-to-point stuff, revenues are based on an upfront and ongoing licence fee, while parking is based on an annual licence plus a payment that depends on the volume of infringements. The casino work is based on a monthly per table fee.

The listing vehicle is based on the shell of Orpheus Energy, an Indonesian coal explorer that gave up the game citing "less than favourable conditions".

As with most tech plays, success will depend on who has the most useful mousetrap rather than the most highfalutin innovation. The capital raising is based on a $5m general offer and a $1.5m share purchase plan, both at 10c. The offer closes on September 18 in view of an October 3 listing.

Brainchip (BRN)
QUOTE
Brainchip is the same but different to SenSen, but has a similar interest in gambling (so to speak). In terms of pervasive and all-knowing surveillance, it's similarly Orwellian in tone.

Brainchip has devised a product, Brain Chip Studio, that will strike fear into anyone with evil intent: camera facial recognition. Brainchip's IP is based on the esoteric yet in-vogue notions of spiking neural networks and neuromorphic computing. Ask your teacher about those ones.

An addendum to security cameras, Brain Chip Studio has the ability to recognise thousands of faces in seconds — key appeal to authorities tackling anything from terrorism to soccer hooliganism.

BrainChip is currently being used by the French Homeland Security department — which has a bit of work on its hands these days — and is also being trialled by the French National Police in Toulouse.

In casino settings, the technology has already been used to identify card counters: undesirable punters who always win because they can memorise what cards have been dealt. The casinos are also interested in detecting the good punters and rewarding them for their loyalty.

Brainchip's technology, devised by entrepreneur and Brainchip chief technology officer Peter Van der Made, is another extension of machine learning that threatens to make clutzy human brains redundant by about next Christmas.

"It's all about recognising repeated patterns without being taught to do so,'' says CEO Louis DiNardo. "A face is little more than a pattern."

Brainchip is involved in discussions for trials with 17 casinos in what's estimated to be a $250m global market. But the bigger opportunity lies in anti-terrorism and civil surveillance, a circa $500m market globally.

Brainchip listed in September 2015 in a reverse takeover by Aziana, raising $4m at 15.7c apiece. It then raised a further $4m in April last year and $6m in a placement last June (at 15c apiece). So it's been back to the well more times than a thirsty camel, not that such practice is unusual for a minnow.

In the June half Brainchip generated $US369,000 ($482,000) of revenue, mainly from a currency gain and residual oil and gas royalties. The $US133,000 of sales revenue was sourced mainly from the acquisition of French artificial intelligence outfit Spikenet Technology for $790,000 in mid 2016.

With cash of $US4.5m and expected current quarter cash burn of $1.8m, Brainchip looks adequately funded. But it only takes a conventional noggin to work out it will likely have to raise more capital in the near future.
Tim.boreham@independent-research.com.au

- actually, I think I can thank point-to-point cameras for easing me into a Caution rather than Speeding Fine in my Expiation Notice. Pulled up for 101 in a 80 KPH zone (didn't see the sign, officer) after a bit of a chat I was asked where I'd come from. Replying truthfully, he went back to vehicle and checked ... yes, I'd done "point-to-point" well under the 110 average. I was surprised, and pleased ... and went to the nearest motel, not wishing to push my luck .



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Sep 7 2017, 09:24 AM
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Company............Proposed ASX code .............*Proposed listing date/time

Australia WeTouch Technology Limited AWT ..............TBA
Biomics Biopharma Limited BBM ..............................TBA
Bryah Resources Limited BYH...................... TBA
CropLogic Limited CLI ...................................TBA
Fat Prophets Global Property Fund FPP ....4 October 2017
Galena Mining Limited G1A ................7 September 2017
GEOOP Limited GEO ........................29 September 2017
HyGieaCare Inc HGC ........................25 September 2017
India Fund Limited INF......................... TBA
Lustrum Minerals Ltd LRM ....................10 October 2017
Macarthur Australia Limited MMM ...........Application Withdrawn
Mayur Resources Limited MRL .....................TBA
MCP Master Income Trust MXT ..................9 October 2017
Nanollose Limited NC6 ..........................10 November 2017
Northern Cobalt Limited N27 ............TBA
Okapi Resources Limited OKR ............TBA
Prospech Limited PRS .....................Application Withdrawn
Raptor Resources Limited RPL ..........TBA
Registry Direct Limited RD1............. 16 October 2017
Restaurant Brands New Zealand Ltd RBD ...........TBA
RightCrowd Limited RCW ....................18 September 2017
Riversgold Limited RGL .....................11 September 2017
Secure2Go Group Limited S2G ..............TBA
Stirfire Limited SFS ..........................29 September 2017
Tando Resources Limited TNO ................20 October 2017
The GO2 People Ltd GO2 ....................22 September
Titomic Limited TTT ..........................13 September 2017
TNT Mines Limited TIN ...........................TBA
VGI Partners Global Investments Ltd VG1 .................28 September 2017



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 


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