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Central Copper Resources, a company focused on delivering a high grade copper project into production and exploration of assets in the Democratic Republic of the Congo (DRC) and in the Republic of Zambia to join AIM. By 2022, CCR intends to be ready to commence the project financing of its Mbamba Kilenda copper project. Timing and offer TBA
Spinnaker Acquisitions to join the Main Market (Standard). A com
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We highlighted last month the (first) Santa Rally arrived early (unlike some other festive gifts). The second Claus(e) relief rally was prompted by the agreement between the European Commission and the UK on its future cooperation with the EU. Markets also reacted positively to the $900bn stimulus package agreed in the US. While the FTSE 100 and FTSE 250 indices rose by 1.6% and 1.7% respectively on the first trading day after the holiday and the FTSE 100 has recovered 28% from its low point in
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We note the announcement released at 12.07pm on 2 nd December ‘Statement regarding possible offer’. Nucleus is deemed to have commenced an offer period and we therefore withdraw forecasts.
Companies: Nucleus Financial Group Plc
Nucleus, the independent wrap provider for financial advisers, has reported assets under administration (AuA) of £16.1bn as at 30th September. This represents an increase of £0.3bn (1.8%) in the last three months, of which net inflows contributed £0.1bn and positive market movements added £0.2bn. We leave our Dec ’20 full year closing assumption of £16.5bn unchanged and consequently our Dec ’20 financial forecasts also remain unchanged. The external market for new business is tough, with Covid r
Independent UK adviser wrap platform, Nucleus, has reported an in-line set of interim results for the six months ended 30th June 2020. While market movements will always have the ability to materially move assets under administration (AuA), the main driver of revenue in any given period, we make no change to our full year forecasts, noting from the statement that trading since period end is in-line with management expectations. Two key positives from the release are that the company’s competitiv
Nucleus, a leading independent UK advised platform, has reported a strong recovery in assets under administration (AuA) in the three months to 30th June. An increase of 13.1% (£1.8bn) to finish the half at £15.8bn means that AuA is now only 2% below the 2020 starting level. While market movements represented the majority of the increase, positive net flows contributed £165m (up 48% on the same quarter last year). The overall AuA increase mirrors that reported earlier this week by peers IntegraFi
The Dec ’19 final results from Nucleus, deferred from 24th March by the FCA moratorium, demonstrated a positive finish to 2019 and indeed a strong start to 2020 until the sharp falls in markets caused by the Covid-19 pandemic. Adjusted PBT of £7.3m for Dec ’19 was well ahead of our £6.7m forecast, mainly on lower-than-expected staff costs. The Board has decided not to declare a final dividend given the open-ended uncertainty affecting markets and investor confidence. Nucleus has a robust balance
Nucleus, a leading independent UK wrap platform for financial advisers, has issued what we regard as a positive Q4 update. Nucleus finished the year with total assets under administration (AuA) of £16.1bn, just ahead of our £16.0bn forecast. This represents an increase of £444m (2.8%) in the last three months, which splits down as net inflows of £153m (1.0%) and positive market movements of £291m (1.8%). Of particular note was that the net flow figure was the highest quarterly figure reported by
Nucleus, a leading independent wrap platform for financial advisers, has disclosed total assets under administration (AuA) of £15.7bn as at 30th September. This represents an increase of £0.4bn (2.4%) in the last three months which breaks down as net inflows of £111m and positive market movements of £254m. Gross outflows, at an annualised 10%, have been elevated over the last few quarters by a small number of advice firms where ownership has changed (acquired by consolidators). This has squeezed
Nucleus, the fintech platform for UK financial advisers, has reported an increase in assets under administration (AuA) of £0.9bn (6.3%) for the three months to 31st March, finishing the quarter at £14.8bn. Net inflows contributed £134m of the quarterly increase, with the strong market performance representing £735m (5.3% of December AuA). We leave our Dec ’19 closing AuA assumption unchanged at £16.1bn and, consequently, make no change to our revenue and profit forecasts.
Nucleus Financial Group (‘Nucleus’), the fintech platform for UK financial advisors has this morning reported final results for the year ended 31st December 2018. The EBITDA/PBT figures are slightly ahead of our original IPO expectations despite a tough end to 2018 which saw markets fall heavily in Q4 and net inflows slow significantly across the wealth management industry. Net revenue was up 9.6% (both years restated for IFRS 15, and also the reclassification of wrapper costs as a revenue deduc
Techniplas –global producer and support services company providing highly engineered and technically complex components, making the supply chain to original equipment manufacturers more efficient. FYDec17 rev $515m.
Circassia Pharma (CIR.L) - specialty pharmaceutical company focused on respiratory disease transferring from the Main Market. No funds being raised. Due 4 Feb.
Greenfields Petroleum (TSX-V:GNF) production focused company with operated assets in Azerbaijan seeking AIM dual li
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Kropz, an emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa, a phosphate project in the Republic of Congo and exploration assets in Ghana, is looking to join AIM. Offer TBC, expected late Nov
Titon holdings—international manufacturer and supplier of ventilation systems and window and door hardware. No capital raise. Due 10 Dec. Mkt cap c.£22m.
Greenfields Petroleum (TSX-V:GNF) production focused company with operated assets in Azerbaijan seek
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AIM showed no signs of a summer slowdown with three strong months with regards to total funds raised (new and further issues). June, July and August averaged over £700m per month, boosted by a particularly strong June which delivered 14 IPOs (historically AIM has 5-6 new joiners per month). Through the end of August 2018, the total amount raised (new and further issues) of £4.80bn is +15% on the same period in 2017 which itself was the best year since 2007.
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Cambria Autos has left the AIM following a takeover.
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Light Science Tech Holdings, the controlled environment agriculture technology and contract electronics manufacturing Group to join AIM. Raising £5m. Expected mkt cap £17.4m. Due 15 Oct.
Harmony Energy Income Trust to join the Specialist Fund Segment of the Main Market raising up to £230m. The Company's investment objective is to provide investors with an attractive and susta
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Palace Capital has released a good trading update of for the 6 months to 30 September. The Group has achieved good progress both across the portfolio and in sales achieved at Hudson Quarter. With cash reserves rising, the Group continues to look for value creative opportunities to recycle capital which should realise value for shareholders. Buy
Companies: Palace Capital plc
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Gymshark has started to put together plans for a stock market listing according to City A.M. The company hit a £1bn valuation just over a year ago and boasts customers in more than 130 countries. Gymshark was founded by teenager Ben Francis in 2012 in his parents’ garage with products that appeal to Gen Z consumers. Timing TBA
Rubix Group Holdings, the market leading pan-European distributor of industrial main
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NextEnergy Solar Fund’s investment in NextPower III opens up geographic opportunities in Latin America, Asia and other parts of Europe much earlier than could have been delivered by direct project investment. Additionally, the JV announcement with energy storage system (ESS) developer Eelpower is also an attractive way to accelerate portfolio diversity as well as opening up the door to further asset growth. By working with partners experienced in different geographies and the energy storage segm
Companies: Nextenergy Solar Fund
Non-Standard Finance (‘NSF’), one of the leading providers of unsecured credit to UK adults, published interim results for the half year to 30 June 2021 on 28 September. Overall, these showed a significantly lower loss before tax due to improved operational performance and lower below the line charges. The group also reported that current trading was ahead of plan primarily due to strong collections performance. Discussions with the FCA regarding the redress programme for guarantor loans custome
Companies: Non-Standard Finance Plc
What’s new: Tatton’s interims trading update confirm it has “delivered strong growth in all its key metrics during the period including revenue, profits and assets under management” (AUM). It is “trading in line with expectations”.
Companies: Tatton Asset Management Plc
AuM pushed on in Q2, hitting £10.8bn – including the acquisition of the Verbatim funds (+13% in H1 organic only). Crucially, net inflows have remained strong through the whole of H1 at £109m avg pcm. This flow momentum underpins an encouraging outlook, both near and medium-term. We leave our forecasts unchanged although note risk to the upside heading into H2. We will review our model again at the Interims. Given the pace of growth and scale of opportunity from already established relationships,
Companies: NewRiver REIT plc
Gore Street’s trading update confirms expectations of a strong trading environment for batteries in both the GB and Irish markets. Driven principally by high gas prices creating electricity market volatility and with tight capacity margins likely to remain, we see the company continuing to generate excess cash returns in this financial year at least.
Companies: Gore Street Energy Storage Fund PLC
TMT Acquisition (TMTA.L) has joined the Main Market (Standard) pursue opportunities to acquire businesses in the technology, media and telecom sector. Raised £5m, mkt cap £5.5m.
NMCN Plc has left the Main Market (Premium) following the appointment of administrators.
What’s cooking in the IPO kitchen?
Harmony Energy Income Trust to join the Specialist Fund Segment of the Main Market raising up to £230m. The Company's investment objective is to provide investors with an attractive
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Companies: Chrysalis Investments Limited
Today's news & views, plus announcements from BHP, MGGT, RIO, BWY, MONY, BGO, YOU, AVAP, PCA & SOLG.
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Trident Royalties Plc (AIM: TRR) has, this morning, highlighted the news released by Lithium Americas Corp. (NYSE/TSX: LAC) with respect to its Thacker Pass Lithium Project located in Nevada, USA. Lithium Americas has more than doubled its M&I resource to 13.7Mt Lithium Carbonate Equivalent (LCE) and increased the Phase 1 capacity to a target of 40ktpa Lithium Carbonate (up from 30-35ktpa) and Phase 2 target to 80ktpa (from 60ktpa).
This is material for Trident, which holds 60% of a LOM unca
Companies: Trident Royalties Plc
Today's news & views, plus announcements from NWG, WPP, SMDS, BDEV, CSP, EMG, HICL, QTX, RLE, MTEC, BOOM, CAPD & THG.
Companies: Barratt Developments PLC (BDEV:LON)HICL Infrastructure Company (HICL:LON)
Exactly one year ago, the FTSE 100 closed at 5,862, having fallen 100 points on the day, the lowest point since mid-May 2020, due in part, to the strength of sterling vs US$ at $1.34. One year on, the FTSE 100 has risen to 7,119, a rise of 21%, it remains 7% below the peak in January 2020. From an international viewpoint, US and European markets continue to trade at record highs. The US Federal Reserve is close to withdrawing some of its economic support this year as inflation picks up and the e
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