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What’s cooking in the IPO kitchen?

Schroder BSC Social Impact Trust plc targeting a GBP100m raise. The Company’s investment objective is to be the first London listed investment company to deliver measurable positive social impact as well as long term capital growth and income, through investing in a diversified portfolio of private market impact funds, co-investments alongside impact investors and direct investments in order to gain exposure to private market Social Impact Investments. Due 22 Dec. Official List (premium)

Abingdon Health to list on AIM. Abingdon Health is a lateral flow diagnostics company providing contract service solutions to a global client base in the healthcare sector and other industries . The Company has developed and is manufacturing the AbC-19TM Rapid Test, an antibody test for Covid-19 indicating whether a person is generating IgG antibodies to the spike protein of the SARS-CoV-2 virus. The Company is also working with three customers to transfer their Covid-19 antigen tests to manufacture, and is manufacturing a component of a rapid PCR (polymerase chain reaction) test. Offer TBC. Due early Dec.

Auctus Growth Plc (LON:AUCT) – Reverse acquisition of HeiQ Materials AG. GBP20m placing for the enlarged group plus further secondary placing of GBP40m for selling shareholders. HeiQ creates technologies that add functionality, comfort, hygiene and sustainability to existing apparel, home textiles, technical textiles, medical textiles and devices and functional consumer products. It is anticipated that the funds raised will be used to strengthen the Enlarged Group’s regulatory portfolio, enhance its direct to consumer marketing and build brand equity, expand its geographical footprint, expand its sales channels, upscale the product HeiQ GrapheneX and build a medical business unit in light of the robust growth that HeiQ Viroblock has experienced due to the COVID-19 global pandemic. Anticipated mkt cap GBP141 million. Due 7 Dec. Main Mkt (Standard)

Conduit Holdings is a newly established reinsurance underwriting business focusing on producing strong risk adjusted returns from a diversified and focused business plan. The business has been formed to capitalise on what the Company’s founders, Neil Eckert and Trevor Carvey believe to be an exceptional market opportunity. Raising $1.1bn. Due December

Helium One Global to join AIM. The Company, through its Tanzanian subsidiaries, holds a 100% interest in 18 licences (the Priority Licences) covering an area of 4,512km2 with an Unrisked Prospective Helium Resource (2U) of 138Bcf (SRK 2019). The Company has spent US$8.25m on exploration, assessment and related activity to date and is now drill ready. Capital to be raised on Admission: GBP6million. Anticipated market capitalisation on Admission GBP14.1 million (at the issue price of 2.84p). Due 4 Dec

Downing Renewables & Infrastructure Trust intends to raise up to GBP200 million to target the acquisition of a diversified portfolio of renewable energy and other infrastructure assets and list on the Official List of the Financial Conduct Authority and Main Market of the London Stock Exchange . Due by mid December

Ecofin U.S. Renewables Infrastructure Trust. Initial public offering of up to us$250 million to invest in a diversified portfolio of mixed US renewable energy assets with an attractive long-term income stream. Main market premium. Due 14 Dec

VH Global Sustainable Energy Opportunities plc, a closed-ended investment company focused on making sustainable energy infrastructure investments, today announces intends to launch an initial public offering of shares on the Official List (Premium) of the Financial Conduct Authority and Main Market of the London Stock Exchange. Due by Early Feb 2021

Tirupati Graphite, the fully-integrated, cash generative, specialist graphite and graphene producer with operations in Madagascar and India, announced its potential intention to undertake an initial public offering on the LSE (standard listing). Due December

Schroders British Opportunities Trust is seeking to raise up to GBP250 million on the premium segment of the Official List . The Company believes that there is a once in a generation opportunity to invest equity capital into high quality, high growth UK Companies in the c. GBP50 million to GBP2 billion equity value range with sustainable business models at attractive valuations. Due 1 December.

Bytes Technology Group one of the UK’s leading software, security and cloud services specialists, announces that the Company intends to publish a Registration Document and is considering proceeding with an initial public offering (Main Mkt Prem). FY20 gross profit of GBP79.2m (+24.5% against FY19) and adjusted operating profit of GBP31.7m (+53.9% against FY19). Highly cash generative with FY20 cash conversion of 125.9% (FY19 cash conversion 139.7%). Bytes due on or around 17 December 2020.

Mailbox REIT PLC , a newly formed single asset company which owns the Mailbox , a large prime office-led mixed use property in Birmingham which has been independently valued at GBP179m, announced its intention to raise up to GBP62.5m. MailBox REIT will apply for the Ordinary Shares be admitted to trading on the IPSX Prime segment of International Property Securities Exchange (IPSX ). Due November.

Umuthi Healthcare Solutions Plc, the technology led healthcare business focused on the distribution of pharmaceuticals and the provision of medical facilities in remote areas, seeking admission to the Standard Listing segment of the Official List. Timing tbc

Kibo Energy PLC (LON:KIBO), the multi-asset Africa focused energy Company, is seeking admission for its 100% owned UK subsidiary Sloane Developments Ltd , which will be renamed Mast Energy Developments PLC (MED), to the Standard List of the London Stock Exchange plc. The MED business strategy is to acquire and develop a portfolio of flexible small-scale power generation assets, exploiting a growth niche market in the UK for Reserve Power generation to balance out the national grid at critical times. Targeted for Q4 2020.

Banquet Buffet

DXS International* 7.25p GBP3.5m (AQSE:DXSP)

The digital clinical decision support company, released unaudited interim results for the half year ending 31 October 2020.

Revenue for the six month period has increased marginally by 3% to GBP1,716,423 (2019: GBP1,664,957);

Profit before tax is up by 68% to GBP150,556 (2019: GBP89,824) and profit after tax up by 11% to GBP224,825 (2019: GBP202,018).

Overall revenue has held up well and the Company continues to maintain a healthy balance sheet with GBP1.2 million in cash at the period end and continues to trade profitably.

While the ongoing COVID situation continues to slow down the planned market launches new solutions DXS is persevering with initiating pilots and initial responses from GPs remain positive and enthusiastic. Progress with planned ExpertCare hypertension solution pilots with 37 GP practices having indicated a willingness to participate with a number at varying stages of progress.

To qualify for NHS GP IT Futures accreditation the hypertension solution (ExpertCare) is classified as a medical device and therefore requires certification within the UK and EU. The Hypertension Expert Solution is now CE accredited. The company also attained ISO accreditation at three ISO standards:

Pebble Group 100p GBP167.45m (AIM:PEBB)

The provider of technology, services and products to the global promotional products industry, announced that the Company is firmly on track to deliver results for the year ending 31 December 2020 in line with market expectations . Facilisgroup has performed robustly throughout the COVID-19 pandemic. Its Partners (customers) have increased to 169, up from 149 at 31 December 2019, with a further six contracted and awaiting implementation. The success of this business model is reflected in the near 100% Partner retention rate, which has been maintained since COVID-19 impacted in March 2020.

At Brand Addition Sales order patterns have continued to improve since the last update in September. The two major new clients, secured in Q1 20, have been successfully launched and are beginning to contribute to FY 20 revenue with a material contribution expected in 2021. In October 2020, Brand Addition achieved a Platinum Rating from EcoVardis, the sustainability ratings provider, meaning Brand Addition is recognised by EcoVardis as being in the top 1% of companies for sustainability in its sector. The Group’s balance sheet remains strong with the working capital requirement reducing in Q4 20 through the normal annual cycle, as expected. At 25 November 2020, the Group had cash balances of GBP 6.7 m, including GBP1.2m drawdown from the Company’s GBP10.0m committed revolving credit facility.

Norman Broadbent 4.6p GBP2.5m (NBB.L)

The London listed Professional Services firm offering a diversified portfolio of integrated Leadership Acquisition & Advisory Services – announces that, in order to strengthen the balance sheet and aid liquidity, the Company has secured a GBP250,000 six-year term loan facility under the British Business Bank’s Coronavirus Business Interruption Loans Scheme (CBILS) from its bankers, Metro Bank PLC .

The Facility can be drawn down at any point before 16th January 2021 with a 12-month interest-free period following drawdown and an interest rate of 4.75% over Metro Bank Base Rate per annum on the drawn down amount thereafter. The funds are repayable commencing 12 months after drawdown in equal monthly instalments for the remaining five years. There will be no penalty for making early repayment(s) of all or part of the Facility.

Additionally, the Company has agreed a new invoice financing facility with Metro Bank PLC and a further GBP1,500,000 is now available under this facility in addition to the CBILS loan.

Actual Experience 90p GBP42.9m (AIM:ACT)

The analytics as a service company, is pleased to provide the following Channel Partner Update. ACT has received a Purchase Order (PO) from one of its Channel Partners in connection with a major deployment of its recently launched Human Experience Management offering (HXM). The Channel Partner’s customer is a leading global energy supplier. This opportunity represents a significant milestone for the Company and will represent the first large-scale deployment of a Business Impact Assessment (BIA) project. The Company’s software will analyse the digital experience of 10,000 home and office-based employees for one month. This confirms the emerging opportunity for the BIA offering to meet the urgent need of its Channel Partners and their enterprise customers as they address the continued challenges of COVID-19-related changes and newly established ways of working across the world.

Since August 2020, the Company has announced amendments to agreements with two of its Channel Partners to facilitate the sale of its new HXM offerings. A third Channel Partner required no amendment to its agreement to sell the new offerings. The introduction of HXM is expected to result in a significant reduction in sales cycles, as well as facilitating a seat-based pricing model. Since August, the Company’s Channel Partners have rapidly established a list of target customers amounting to over 4 million addressable employees or seats.

DX Group 24.5p GBP140.55m (LON:DX)

AGM Statement from the provider of delivery solutions. “As we reported on 17 September 2020, trading in the first months of the new financial year has been ahead of the same period in 2019, and I am pleased to report that this has continued, without any sign as yet of an adverse impact from the second national coronavirus lockdown. Net new business across both divisions to date is encouraging and the new business pipeline remains very healthy. While it is still relatively early in the financial year, with volumes better than expected and margins improving in DX Freight, we now anticipate that DX is on track to perform materially better than current market expectations.”

Jersey Oil & Gas 112.5p GBP24.6m (LON:JOG)

Conditional sale and purchase agreement (SPA) to acquire the entire issued share capital of CIECO V&C (UK) Limited , which is currently owned by ITOCHU Corporation, and Japan Oil, Gas and Metals National Corporation Acquisition.

– Acquisition secures an additional 12% working interest in Licence P2170 Blocks 20/5b & 21/1d thereby providing JOG with 100% ownership and full control of Licence P2170, located within JOG’s Greater Buchan Area (GBA) development project.

– A completion payment of GBP150,000 in cash

– Contingent payments of:

o GBP1.5 million in cash upon consent from the UK’s Oil & Gas Authority (OGA) for a Field Development Plan (FDP) in respect of the Verbier discovery in the Upper Jurassic (J62-J64) Burns Sandstone reservoir located on Licence P2170; and

o GBP1 million in cash payable not later than one year after first oil from all or any part of the area which is the subject of the FDP

Greencoat Renewables 1.15p GBP723m (LON:GRP)

The renewable infrastructure company, invested in euro-denominated assets, is pleased to announce a proposed placing of approximately EUR100 million, under the 350 million Share Issuance Programme launched on 21 November 2019, of which a balance of approx. 239 million ordinary shares remains available for issue.

The shares will be issued through a Placing by way of a non-pre-emptive issuance to institutional investors. In line with strategy, the proceeds of the Placing will be used to pay down the Company’s existing Revolving Credit Facility and provide financial flexibility to take advantage of a pipeline in excess of EUR500m in value accretive acquisition opportunities in Ireland and in other target European countries.

4d Pharma 92.6p GBP121.3m (LON:DDDD)

In connection with the proposed merger of 4D pharma PLC and Longevity Acquisition Corporation (NASDAQ: LOAC) , a NASDAQ-listed Special Purpose Acquisition Company announced on 22 October 2020, 4D has today filed a registration statement on Form F-4 with the U.S. Securities and Exchange Commission (SEC).

Pursuant to the Registration Statement, the Company expects to launch a new American Depositary Receipt programme and will apply to admit its American Depositary Shares (ADSs) for trading on NASDAQ under the ticker symbol ‘LBPS’. The ADSs will, subject to the approval of 4D shareholders, be offered to Longevity shareholders as consideration under the terms of the merger. The Registration Statement includes a proxy statement of Longevity that also constitutes a prospectus of 4D under SEC rules. The Registration Statement has not yet become effective.

GRC International 19.5p GBP20.5m (LON:GRC)

Launch of General Data Protection Regulation (GDPR) EU and UK Representative Services for all organisations that need to appoint an EU or UK representative before the Brexit transition period ends on 31 December 2020.

Under the EU GDPR, data controllers and processors outside of the EU that offer goods or services to EU data subjects must appoint an EU representative. This is also the case if an organisation monitors the behaviour of EU citizens, and vice versa for non-UK-based data controllers who will need to appoint a UK representative for dealing with UK data subjects.

GRC International Group’s EU and UK Representative Services are fast, efficient and affordable services that allow organisations to easily and quickly meet their compliance obligations under Article 27 of the GDPR.

The services are offered as annual subscriptions which are sold through GRCI Law, the Group’s legal, risk and compliance consultancy subsidiary, and packages can be tailored to suit organisations of every size and budget with a variety of subscription levels available.

Remote Monitored Systems 1.85p GBP29.3m (LON:RMS)

Update on its wholly owned subsidiary Pharm 2 Farm Limited. As noted in the Company’s announcement of 11 November 2020, the Directors have been expecting the delivery and installation of its new anti-viral mask production line at or around the end of November. Yesterday, 25 November 2020, the Company received an update from P2F and the manufacturer of the production line noting that the production machinery is now expected to undergo final acceptance testing in mid-December at the manufacturer’s premises in Spain. It will then be shipped, installed and commissioned at P2F’s Biocity premises in Nottingham. Commercial production and shipment of product is now expected to begin in January 2021.

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