Category Archives: IPO

Portfolio overview Q317

Almost successful issues

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The past two post I have focused on issues and IPO. This again will be the topic but from a different angel since A1M Pharma completed their issue this week and BrainCool announced a very peculiar form of private placement. Some issues are at best almost successful issues, which A1M Pharma is an example of. And of course there is the farce of the week: the postponed listing of lauritz.com. That wasn’t even ‘almost successful’ but straight out unsuccessful and made the laugh of the month. Continue reading

Issues and IPOs

Issues and IPOs

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The past two or three month I have received an increasing number of mails (and snail mail) where this or that company invites me to invest in issues and IPOs – a public share issue or an Initial Public Offering (IPO) prior to a listing om NASDAQ, Aktietorget or First North. I have wondered if the reason was an increasing activity in listing and issues – or it is just my e-mail being on more lists than before.

Therefore, I decided to dig a bit deeper into the market for issues and IPOs in Sweden. My conclusion: there seems to be more issues and IPOs in 2016 than in 2014 and 2015. Continue reading

Simris Alg

Algae on First North

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Algae producer Simris Alg is heading for First North. Mid-March, the company announced the decision to make an IPO before their listing on Firth North. The subscription period is from March 29th to April 11th and the debut date on First North is April 22th. Subscription price is 18.5 SEK with 300 shares as minimum, equalling 5,500 SEK. The number of new shares issued is 2.7 million – app. 28% of the total number of shares. If fully subscribed, the company will raise 50 MSEK for continued growth and commercialization. The plan is to use the fund for investment in production capacity (55 %), sales and marketing (20 %), and working capital (25 %). Continue reading

IPO in RhoVac and Invent Medic

IPO in RhoVac and Invent Medic

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I have noticed, that I spend less time on my shares in times where the market is pointing downwards – and more time when the direction is up. At some point it is simple psychology – and from the number of visitors on this blog, I have a strong feeling that I am not the only one behaving like this. It is clear both in August and in January that there is a strong correlation between the number of visitors and times where shares are losing value.

For a company making an IPO, I imagine that these crisis as the current, adds a certain degree of lottery to the process. If people are less willing to read on shares, spend less time on search for information on shares or investment possibilities, and in general are more cautious with their money, raising the necessary capital is much harder.

My guess is that the two offers to participate in IPO’s I have received in January will have tougher times finding investors than similar companies in November or December. Since none of the have yet expired, I have no idea of the result of the IPO’s. None the less, I’ll give them a bit of attention, even though I will not participate in neither IPO’s.

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Issues

Penny shares, frimärksaktier, Kleinaktien

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‘Penny shares’ or ‘penny stocks’ it the term for shares with a low price. Shares with a price below 1 GBP in the UK, 1€ in Germany, 5$ in the US and 5-10 DKK or SEK in Denmark and Sweden. In Danish and Swedish, the term is ‘stamp share’ (‘frimärksaktie’ in Swedish, ‘frimærkeaktie’ in Danish) referring to the similarity of price of sending a letter and the share price. In Germany, the term is ‘Kleinaktien’ – small share – refers, I guess, not as much to the physical size of the share, but the company behind. Continue reading

Photocat IPO

Photocat after the IPO

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Danish environmental tech company Photocat is listing at First North in Stockholm in mid-November. The company announced this on Friday October 23. The intention was that the IPO would bring in 22.5 MSEK, but it only raised app. 6 MSEK. Despite this disappointing result were only app. ¼ of the planned shares are issued; the company lists despite this setback and has drawn up a revised plan for growth. The expectation in the memorandum was breakeven at the end 2016. This goal cannot be achieved. The CEO, Frank Humble, says in the press release “With the funds raised in the IPO together with the funds that the company raised through our private placement during the summer we have sufficient working capital resources until the end of 2016 (…)”. Continue reading

Photocat IPO

Photocat IPO

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Another Danish company is listing in Sweden: Photocat. A rising number of Danish companies choose to list in Stockholm instead of Copenhagen. As Dane myself I give these IPOs a little extra attention, but I evaluate them on the same scale as Swedish companies. Readers of my blog will know that IVISYS (IPO in spring 2015) and Oncology Venture (summer 2015) are two of these companies. IVISYS is part of my portfolio at present. Continue reading

PExA 2.0

PExA – IPO

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From time to time, I receive memoranda and teasers on IPOs and share issues from Sedermera, Redeye, Aktieinvest FK or others. The latest is the IPO of PExA – and I am not sure know how to pronounce it, but I can spell it, and the name is a shortening of ‘Particles in Exhaled Air’. Which is in short the whole idea behind the company. Continue reading