June is set to be another lean month for new listings on the ASX, with around 10 likely to make their debut.
Mining companies account for the bulk of expected listings, while financial company Advanced Share Registry, engineering group Emerson Stewart, and incentive marketing group The Rewards Factory are also poised to make their market debuts.
By far the biggest listing in June though, will be ammonia plant operator Burrup Holdings, which launched its $500 million IPO in May.
Burrup operates Australia’s only merchant ammonia plant and each year produces about four per cent of the world’s tradeable ammonia. The group has a 20 year exclusive off-take agreement with one of the world’s biggest fertiliser producers, Yarra.
Major shareholder and company chairman Pakaj Oswal, who is selling down 17 per cent of his share in Burrup to facilitate the IPO, said the funds will position the company to take advantage of growth opportunities, and to capitalise on the current strong global market for ammonia.
Burrup Holdings has issued 223 million shares at between $1.75 - $2.25, to raise up to $502 million. The company is set to make its market debut on June 19.
Meanwhile, Caledon Resources is the largest of the mining companies set to list on the ASX this month, with its $15 million IPO closing early due to strong demand from investors. The company is already listed on London’s AIM market and is now seeking an ASX listing.
Caledon was originally focused on exploring for precious metals in China but in 2006 Caledon became a coal producer with the acquisition of the Cook Colliery in Queensland’s Bowen Basin.
Caledon Resources has raised $15 million through issuing around 13.8 million shares at $1.10 each. It will hit the boards on June 4.
Finally, Perth-based resources services group Emerson Stewart plans to make its market debut in June following an $8 million IPO.
The company, which provides advisory services, project implementation and development services to the resources, energy and infrastructure sectors, says that the capital will be used to fund growth activities and acquisitions, and to provide it with working capital.
Emerson Stewart has issued 40 million shares at 20 cents each, and is hoping to raise $8 million. Its ASX entry is earmarked for the June 18.
By far the biggest listing in June though, will be ammonia plant operator Burrup Holdings, which launched its $500 million IPO in May.
Burrup operates Australia’s only merchant ammonia plant and each year produces about four per cent of the world’s tradeable ammonia. The group has a 20 year exclusive off-take agreement with one of the world’s biggest fertiliser producers, Yarra.
Major shareholder and company chairman Pakaj Oswal, who is selling down 17 per cent of his share in Burrup to facilitate the IPO, said the funds will position the company to take advantage of growth opportunities, and to capitalise on the current strong global market for ammonia.
Burrup Holdings has issued 223 million shares at between $1.75 - $2.25, to raise up to $502 million. The company is set to make its market debut on June 19.
Meanwhile, Caledon Resources is the largest of the mining companies set to list on the ASX this month, with its $15 million IPO closing early due to strong demand from investors. The company is already listed on London’s AIM market and is now seeking an ASX listing.
Caledon was originally focused on exploring for precious metals in China but in 2006 Caledon became a coal producer with the acquisition of the Cook Colliery in Queensland’s Bowen Basin.
Caledon Resources has raised $15 million through issuing around 13.8 million shares at $1.10 each. It will hit the boards on June 4.
Finally, Perth-based resources services group Emerson Stewart plans to make its market debut in June following an $8 million IPO.
The company, which provides advisory services, project implementation and development services to the resources, energy and infrastructure sectors, says that the capital will be used to fund growth activities and acquisitions, and to provide it with working capital.
Emerson Stewart has issued 40 million shares at 20 cents each, and is hoping to raise $8 million. Its ASX entry is earmarked for the June 18.
