QR National Float To Be Completed This Year

The much awaited QR National share offer looks like it will definitely go ahead now with the company seeking pre-registrations from interested retail shareholders right now.

While pricing information is not yet availale, the Syndey Morning Herald has reported that the lead managers of the float are looking for a price to earnings ratio of 16 times. While this doesn’t seem to be a screaming bargain, I suspect the eventual price will probably depend largely on the strength of the Australian and world stock markets in the coming weeks.

Another factor at play is the negative sentiment generated by the Queensland opposition leader and the union movement. Comparisons with the Telstra float and the more recent and even less successful Brisconnections share sale will undoubtedly strike a chord with some investors. However QR CEO, Lance Hockridge, disputes the validity of these comparisons. Mr Hockridge cites strong growth opportunities on the back of the resources boom. Time will tell.

QR National is due to make its debut on the ASX on December 1.

Mobilearm Share Offer

The closing date for the Mobilarm Ltd Float has been extended until 5 July 2010. The company cited volatile share markets conditions as the reason for extending the offer period.

Mobilarm is trying to raise $4 million from investors in its initial public offering. The company is offering 20 million shares at 20 cents each.

The business of Mobilarm is focused on sales and marketing of a range of marine safety products. The technology sounds quite interesting – it is used to detect and raise an alert in a “man overboard” situation, followed by “in-water tracking” in order to assist in search and rescue operations.

A quick look at the financial reports shows that the company is not yet profitable. So this is definitely a speculative investment – with investors taking a punt that management can successfully commercialise the technology and in so doing, manage to turn a profit.

Matrix Composites and Engineering Share Float

Fifteen million shares in Matrix Composites & Engineering Limited are being offered to the public at a price of $1.00 per share. The offer is due to close on November 6 with shares expected to begin trading on the Australian Stock Exchange on November 17.

Matrix is a Western Australian based company. It manufactures and supplies engineering equipment to the oil and gas, mining and mineral processing industries among others. The company will have 64 million shares issued after the IPO giving a market capitalisation of $64 million at the issue price of $1.00.

The proceeds of the offer are to be ploughed into the expansion of the business. This is in contrast to the Myer and Kathmandu floats in which the current owners are selling out.

Kathmandu Float Will Proceed

Well the rumors are true – the Kathmandu float is on.  Shares in the retailer are set to list on both the Australian Stock Exchange and the New Zealand Stock Exchange before Christmas.

The company is seeking to raise up to 375 million dollars through the sale of up to nearly 200 million shares at between $1.65 and $1.90 (Australian dollars that is) per share.  The proceeds will go to the current owners who are selling down their holding and also to pay down debt.

For those unfamiliar with Kathmandu’s operations, it operates a chain of stores selling outdoor goods and clothing.  It was established 1987 and has since grown to have a total of 91 stores across Australia, New Zealand and the UK.

The Kathmandu share offer opens on October 27th and closes on November 6th.  Shares are expected to begin trading on a deferred settlement basis on November 13th.

Winchester Resources Limited Share Offer

Winchester resources is seeking to raise $2 million through the issue of 10 million shares at 20 cents each.  The offer opened on 7 October and is expected to close on 6 November.

The company has entered into an agreement to acquire the Ora Banda Project near Kalgoorlie.  They are hoping to

“define mineralization on the Tenements and identify, review and secure other potential mineral resource projects”

From what I understand their exploration efforts will be directed towards finding gold and nickel.  It should be noted that this is a speculative proposition as the future value of any investment will depend on their success in finding any viable mineral deposits.

Winchester Resources Limited is expected to list under the code WCR and begin trading on the ASX on 17 November 2009.  The prospectus is available at www.winchesterresources.com.au.

Dourado Resources Limited IPO

Dourado Resources Limited (DUO) is seeking to raise a total of $3 million through the issue of 15 million shares at a price of $0.20 each, with a provision to raise up to another $2 million in over-subscriptions.  As an added sweetener, subscribers receive one option for each share exercisable at $0.20 up until 2014.

The company is an explorer looking for gold, copper and uranium in Western Australia and the Northern Territory on tenements covering an area of 2,800 square kilometers.  DUO shares are expected to list on the ASX on 14 October.

Sumatra Copper And Gold Share Float

Sumatra Copper & Gold Plc is planning to list its shares on the Australian Stock Exchange on 30 September. The company plans on exporing for gold and silver on the Indonesian Island of Sumatra.

SCG is hoping to raise $12 million through the issue of 60 million shares at $0.20 a piece. If fully subscribed, the company wll have just over 127 million shares outstanding.

The Sumatra Copper & Gold IPO is one of a handful of small resources operations share floats currently underway.

Myer Float To Go Ahead

Shares in Myer are set to be offered to the public again after an absence for the Australian Stock Exchange of over 3 years.

The private equity consortium which took the retailer private is looking to realize its investment. This is after considerable restructuring and asset sales.

Unfortunately, I don’t have any of the specifics of the deal yet, however word is that a prospectus is due to be lodged with ASIC at the end of September. I don’t know any of the pricing details, the amount to be raised or how the shares will be allocated. However, loyalty card holders and staff members can apparently preregister their interest in the Myer float in order to be sent out a copy of the prospectus when available.

With the recent strength of the Australian stock market, I’m sure Myer’s current owners will be very keen to get the sale out of the way as soon as possible. The last thing they’ll want is for the market to tank now…

Lucknow Gold Limited Still Planning To List On The ASX

Lucknow Gold Ltd has extended its Initial Public Offer until 31 October this year.  This is no great surprise give the turmoil currently being experienced in Australian equity markets.  I believe the company was originally planning on listing on 26 September.

Lucknow is seeking $7.5 million at 20 cents per share.  The company is expected to trade under the ASX code of LUK.

As the name would suggest, LUK will be looking for gold in the Lucknow and Yambulla Goldfields in New South Wales.  The company owns two exploration licences in what it says is the “highly mineralised Lachlan Fold Belt”.  Apparently the region dates back to 1977 in providing success to gold explorers.

Visit the Lucknow Gold website for details.

CommSec is the Manager of the Lucknow Gold Limited share offer.

Base Iron Limited Float

Base Iron Ltd has closed it’s Initial Public Offer as of 17 September.  It says it’s reached its target subscription of $4 million through the issue of 20 million shares at 20 cents each.  This is a pretty good effort given Australian stock market conditions in recent times.

The company is another iron-ore explorer with its sights set on Western Australia.  However, the company has 6 tenements, some of which it says are nearing production.

Base Iron is expected to list on 3 October under the ASX code of BSE.