SHAREMARKET FLOATS – AUSTRALIA

Coronado pushes past IPO blow

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Original article by James Frost
The Australian Financial Review – Page: 18 : 22-Oct-18

Coronado Global Resources is slated to commence trading on the Australian sharemarket on 23 October. The IPO raised $774m and was oversubscribed, although Coronado had scaled back the size of the offering from an initial target of $1.4m. Metallurgical coal accounted for about 75 per cent of Coronado’s total production in 2017. The company owns coal mines in Queensland’s Bowen Basin and the US state of Virginia. Energy & Minerals Group (EMG) will retain a stake of up to 78.9 per cent in Coronado.

CORPORATES
CORONADO GLOBAL RESOURCES INCORPORATED – ASX CRN, ENERGY AND MINERALS GROUP, THE GOLDMAN SACHS GROUP INCORPORATED, UBS HOLDINGS PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, BELL POTTER SECURITIES LIMITED, HERBERT SMITH FREEHILLS PTY LTD, SULLIVAN AND CROMWELL, WHITEHALL ASSOCIATES, NEW HOPE COAL AUSTRALIA, YANCOAL AUSTRALIA LIMITED – ASX YAL

Coronado tips coal prices above $US170

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Original article by Peter Ker
The Australian Financial Review – Page: 13 & 16 : 25-Sep-18

Coronado Global Resources will have a market capitalisation of more than $4bn after its proposed IPO. The company, whose primary listing will be in Australia, proposes to issue 166.5 million CHESS Depositary Interests to local shareholders; its only shareholder Coronado Group will in turn sell more than 123 million CDIs. Coronado Global Resources’ assets include the Curragh coking coal mine in Queensland and several coking coal mines in the US. MD and founder Garold Spindler expects the price of coking coal to remain above $US170 per tonne in the near-term, due to continued strong demand.

CORPORATES
CORONADO GLOBAL RESOURCES INCORPORATED, CORONADO GROUP, ENERGY AND MINERALS GROUP, WESFARMERS LIMITED – ASX WES, RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, BM ALLIANCE COAL OPERATIONS PTY LTD, MITSUBISHI CORPORATION, MMG LIMITED – ASX MMG, VIVA ENERGY GROUP LIMITED – ASX VEA

What’s in store for listings in 2018

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Original article by James Frost
The Australian Financial Review – Page: 27 : 25-Jul-18

Just 39 companies listed on the Australian sharemarket during the first half of 2018, compared with 57 during the corresponding period in 2017. However, Marcus Ohm of HLB Mann Judd notes that IPO activity is traditionally higher in the second half of a calendar year. IPOs collectively raised $2.5bn in the first half of 2018, although this was dominated by the L1 Long Short Fund. The materials sector is poised to account for a significant proportion of IPOs in the second half, as it did in the first half.

CORPORATES
HLB MANN JUDD, L1 LONG SHORT FUND LIMITED – ASX LSF, LATITUDE FINANCIAL SERVICES LIMITED

ASIC in sweeping IPO crackdown over favourable treatment

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 25 : 25-May-18

The Australian Securities & Investments Commission has warned stockbrokers that it will clamp down on favourable treatment of certain investors when it comes to allocating shares via IPOs. Cathie Armour of ASIC says it is important that brokers keep the needs of the issuer client in mind when allocating shares. She also says ASIC is concerned about listing standards, particularly with regard to overseas companies that seem to have little business interest in Australia that seek to list on the local bourse.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, STOCKBROKERS AND FINANCIAL ADVISERS ASSOCIATION LIMITED, AUSTRALIA. FINANCIAL ADVISER STANDARDS AND ETHICS STANDARDS AUTHORITY

ASX predicts rise of technology titans

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Original article by Yolanda Redrup
The Australian Financial Review – Page: 16 : 21-May-18

Latitude Financial and Colonial First State Global Asset Management are among the companies that could potentially list on the Australian sharemarket before the end of 2018. The bourse has traditionally been heavily weighted toward banking and resources stocks. However, ASX executive Max Cunningham says more technology companies could be added to the S&P/ASX 20 in the next decade, given that the sector continues to be the most popular among investors.

CORPORATES
LATITUDE FINANCIAL SERVICES LIMITED, COLONIAL FIRST STATE GLOBAL ASSET MANAGEMENT, PROSPA PTY LTD, ASX LIMITED – ASX ASX, CSL LIMITED – ASX CSL, XERO LIMITED – ASX XRO, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, BIG UN LIMITED – ASX BIG, GETSWIFT LIMITED – ASX GSW

Lean, mean Jupiter Mines returns to ASX

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Original article by William McInnes
The Australian Financial Review – Page: 13 & 16 : 19-Apr-18

Manganese producer Jupiter Mines relisted on the Australian sharemarket on 18 April, more than four years after the stock was delisted in the wake of a downturn in commodity prices. CEO Priyank Thapliyal says Jupiter had intended to return to the bourse after the completion of the Tshipi manganese mine in South Africa. He has ruled out acquisitions or taking on debt to drive the company’s growth. Jupiter shares closed at the issue price of $A0.40.

CORPORATES
JUPITER MINES LIMITED – ASX JMS

CBA eyes $4b spin-off of funds manager

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 13 & 16 : 18-Apr-18

The Commonwealth Bank of Australia has appointed John Mulcahy as the chairman of Colonial First State Global Asset Management ahead of its demerger and sharemarket float. Goldman Sachs values CFSGAM at between $A3.7bn and $A4.8bn, which could potentially make it the largest Australian IPO since Medibank Private in 2014. CBA opted for an IPO following a strategic review of CFSGAM, which boasts $A219bn worth of assets under management. CBA sold its life insurance business in 2017, and the latest divestiture will enable it to focus on its core banking business.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, COLONIAL FIRST STATE GLOBAL ASSET MANAGEMENT, GOLDMAN SACHS AUSTRALIA PTY LTD, MEDIBANK PRIVATE LIMITED – ASX MPL, MIRVAC GROUP – ASX MGR, SUNCORP GROUP LIMITED – ASX SUN, AIA GROUP LIMITED, ARNHEM INVESTMENT MANAGEMENT PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT, REGAL FUNDS MANAGEMENT PTY LTD, NEW SOUTH WALES TREASURY CORPORATION, INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG, ECLIPX GROUP LIMITED – ASX ECX, MACQUARIE GROUP LIMITED – ASX MQG, FIDELITY INVESTMENTS AUSTRALIA LIMITED, ERNST AND YOUNG, JP MORGAN AUSTRALIA LIMITED, UBS HOLDINGS PTY LTD

Unlockd pulls IPO following Google threat

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Original article by Paul Smith
The Australian Financial Review – Page: 11 & 16 : 17-Apr-18

Mobile advertising start-up Unlockd has been forced to abandon plans for an IPO after Google advised that its app does not comply with its terms of use. Unlockd’s app, which works by giving smartphone users a discount on their bill in return for seeing ads and other content when they unlock their phone, only works on phones that use Google’s Android platform. Unlockd co-founder Matt Berriman notes that Google previously had no problems with its app, and its action appears to have been prompted by the proposed IPO.

CORPORATES
UNLOCKD PTY LTD, GOOGLE INCORPORATED, HIGH COURT OF ENGLAND AND WALES, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, EUROPEAN COMMISSION, UNITED STATES. FEDERAL TRADE COMMISSION

Uber rival GoCatch plans ASX listing

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Original article by Yolanda Redrup
The Australian Financial Review – Page: 23 : 13-Mar-18

Ride-sharing firm GoCatch is seeking to list on the Australian sharemarket in June, and hopes to raise up to $A5 million via an IPO. This is in addition to $A1 million in pre-IPO funds that it aims to raise by the end of March. Backers of GoCatch include fund manager David Paradice. Co-founder Andrew Campbell says GoCatch focuses on providing services to governments and corporations, while he notes that it hopes to break even by June.

CORPORATES
GOCATCH, TAXIMEDIA PTY LTD, UBER AUSTRALIA PTY LTD, CARADVICE.COM.AU PTY LTD, ROYALE LIMOUSINES, NEW SOUTH WALES HIRE CAR ASSOCIATION, SLINGSHOT LIMITED

Smaller end of town to buoy ASX

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Original article by Glenda Korporaal
The Australian – Page: 25 : 31-Jan-18

A report by HLB Mann Judd notes that 37 companies have plans to list on the Australian sharemarket at present, compared with 23 at the same time in 2017. Third Party Technologies heads the list of prospective floats, with plans to raise $A123m from investors. HLB Mann Judd expects small and medium-sized companies to continue to dominate the IPO market in 2018. There were no IPOs worth more than $A1bn in 2017, and no IPOs of this size are currently in the works.

CORPORATES
HLB MANN JUDD, THIRD PARTY TECHNOLOGIES INCORPORATED – ASX 3PT, INDIA FUND LIMITED – ASX INF, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, COLONIAL FIRST STATE GROUP LIMITED, INGHAMS GROUP LIMITED – ASX ING, WESFARMERS LIMITED – ASX WES, OFFICEWORKS SUPERSTORES PTY LTD, ARCHER CAPITAL PTY LTD, CRAVEABLE BRANDS LIMITED, OPORTO PTY LTD, RED ROOSTER FOODS, ZIP INDUSTRIES AUSTRALIA, QUADRANT PRIVATE EQUITY PTY LTD, CHAMP PRIVATE EQUITY PTY LTD, ACCOLADE WINES LIMITED