Lucknow Gold Limited Still Planning To List On The ASX September 21, 2008
Posted by aussiefloats in IPOs.Tags: Lucknow Gold, LUK
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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 September 20, 2008
Posted by aussiefloats in IPOs.Tags: Base Iron Ltd, BSE
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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.
What Is Aussie Floats? June 28, 2008
Posted by aussiefloats in About.Tags: ASX, Australian Stock Exchange, Float, IPO
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This being the first post and all, I thought I’d take this opportunity to share some of the plans I have for this blog. First and foremost this blog is dedicated to the Australian Stock Market and in particular all of the new companies which are floating on the Australian Stock Exchange.
But What Is A Float?
In case you’re new to this game, or maybe you’re not a local, I should explain what a float is. It’s what the Americans call an IPO or Initial Public Offering. This is when a company or corporation lists on the stock exchange. It gives the public a change to buy and sell shares in the company and gives the company the opportunity to raise new capital to grow it’s business (or maybe to re-furnish the executive washroom).
So as I find out about new companies getting ready to float, I’ll write about them here. I’ll provide some of the details of the impending listing along with some of my thoughts about the business. I won’t be providing buy recommendations. I don’t want that responsibility. I’d rather just generate some discussion about some of these new companies and hopefully learn a thing or two in the process.
I should also stress that I’m not an investment professional. Although I am a keen investor, I’m not qualified to give investment advice. Just because I write about these companies, it doesn’t mean I’m recommending them. In fact in my experience, many new listings aren’t worth the effort. So make sure you get some independant professional advice before you make any investments.
