Small Cap Feast

AMTE Power, a developer and manufacturer of lithium-ion battery cells for specialist markets, announced its intention to seek admission to trading on AIM. Admission is expected to take place during March 2021. The Company intends to raise approximately £7m by way of a placing of new ordinary shares in the capital of the Company. Timing TBC. Samarkand Group Limited, the cross-border eCommerce technology and retail group opening up the world's largest market for brands and retailers, intends to IP

Small Cap Feast

MJ Hudson Group PLC, the financial services support provider to Alternatives fund managers and asset owners, is planning an AIM IPO. Deal details TBC.

Investors hungry for Food Tech

The spotlight on food technology has perhaps grown more as a result of changing consumer trends, and environmental necessity than from investor appetite for something new. According to Robbins Research, livestock account for 18% of greenhouse gas (GHG) emissions, which is higher than the portion of GHG emissions created by transportation. Livestock also produce 35% of the world’s methane, which has more than 20 times the Global Warming Potential of carbon dioxide, and generate 65% of the world’s

Small Cap Feast

Freyherr International Group PLC the Medicinal Cannabis holding company established in 2016, is planning to list on the NEX exchange on the 13 August

Small Cap Feast

Interswitch, a Nigeria-based payments firm, has hired advisers to resurrect plans for a stock-market listing in London and Lagos later this year, which may value the financial technology company at $1.3bn to $1.5bn.

Small Cap Feast

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. Loungers plc—the operator of 146 café/bar/restaurants across England and Wales under the Lounge and Cosy Club brands, announces its intention to seek admission on AIM, offer TBC, expected late April. SDX Energy plc—a North Africa focused oil and gas company, announces its intention t

Small Cap Breakfast

RA International is a leading provider of services to remote locations in Africa and the Middle East looking to join AIM raising £18.8m and 56p, market cap of £97.2m. Expected 29 June Cake Box Holdings—franchise retailer of cakes with a growing store base across the UK looking to join AIM, Sell down of £16.5m, Mkt Cap £43.2m. Mar18 FY rev £12.8m, underlying earnings £3.7m. Due 27 June. Mind Gym. Behavioural science business that uses scalable proprietary products to deliver human capital and b

Small Cap Breakfast

Fusion Antibodies—Belfast based contract research organisation providing services to biopharmaceutical and diagnostics companies that are involved in the development of antibodies for both therapeutic drug and diagnostic applications. Offer TBA. Due Mid Dec. Sirius Petroleum—RTO. Becoming an operating company in the Ororo Field in Nigeria. Raising £7.2m/ Mkt Cap £35.6m. Due 19 Dec. Bushveld Minerals—RTO of Bushveld Vametco and therefore 78.8% of Strategic Minerals Corporation, the intermedia

Small Cap Breakfast

I3 Energy –Schedule 1. Independent oil and gas company with assets and operations in the UK. Offer TBC, 26 May admission. | Opera Investments – Reverse Takeover of Kibo Mining’s subsidiary Kibo Gold. Raising £1.5m. Expected mkt Cap £6.5m. 23 May. | Eve Sleep— Schedule 1 from the e-commerce focused, direct to consumer European sleep brand. Offer details TBC. Expected Mid May | Velocity Composites—Schedule 1. Manufactures advanced carbon fibre and ancillary material kits (predominantly carbon fibr

AIM Breakfast

Petards Group* (PEG.L) | Marlowe PLC (MRL.L) | RedT Energy (RED.L) | Tern (TERN.L) | Greatland Gold (GGP.L) | ImmuPharma (IMM.L) | Galantas Gold (GAL.L) | Scancell Holdings (SCLP.L) | Immedia Group (IME.L) | Provexis (PXS.L)

AIM Breakfast

OptiBiotix Health* (OPTI.L) | Hutchison China Medi (HCM.L) | FairFX Group (FFX.L) | Amino Technologies (AMO.L) | Provexis (PXS.L) | APC Technology Group (APC.L) | Ithaca Energy (IAE.L) Avingtrans (AVG.L) | Flowtech Fluidpower (FLO.L)

AIM Breakfast

Opti Biotix Health * (OPTI.L) | Hutchison China Medi (HCM.L) | FairFX Group (FFX.L) | Amino Technologies (AMO.L) | Provexis (PXS.L) | APC Technology Group (APC.L) | Ithaca Energy (IAE.L) | Defenx (DFX.L) | Avingtrans (AVG.L) | Flowtech Fluidpower (FLO.L)

Strong growth in core underpins FY expectations

EKF has reported a strong H1, with revenues of £37.5m and double-digit growth in underlying non-Covid related business. Management reports it is trading in line with expectations for the full year and we make no change to our profit forecasts at this stage. New growth initiatives are proceeding to plan and should lead to accelerated core growth from FY23 onwards. We continue to see substantial upside on successful execution with the shares trading on an FY23 P/E of 13.1x and an EV/EBITDA of just

Hybridan Small Cap Feast 09/08/22

Dish of the day Joiners: No joiners today. Leavers: No leavers today. What’s cooking in the IPO kitchen?** Unigel Group, intends to join the Aquis Growth Market. Unigel Group is a pioneer in the field of thixotropic gels for the fibre optic cable industry. The Company is also a supplier of laminated steel tapes to the fibre optic cable industry in the US. Thixotropic gels and laminated steel tapes are essential components to the rapidly growing global fibre optic cable market. The Group exports

Morning Note – 3 August 2022

Update ahead of results

Ahead of its upcoming results, ECO has issued an update flagging an issue around a sales tax liability and the treatment of certain items of capitalised development, offset by a foreign exchange gain will result in it reporting FY22 Adj EBITDA of ~£6.5m vs SCMe £7.1m. It has also indicated trading in China has been difficult in Q1 FY23, particularly with the large producers, but margins have improved on mix. Trading in the Rest of the World has been strong YTD. Given the proximity to the results

Hybridan Small Cap Feast 21-07-2022

Dish of the day Joiners: No joiners today. Leavers: No leavers today. What’s cooking in the IPO kitchen? Unigel Group, intends to join the Aquis Growth Market. Unigel Group is a pioneer in the field of thixotropic gels for the fibre optic cable industry. The Company is also a supplier of laminated steel tapes to the fibre optic cable industry in the US. Thixotropic gels and laminated steel tapes are essential components to the rapidly growing global fibre optic cable market. The Group export

LIBERUM: PureTech Health - Karuna hits Phase III ground running

Hybridan Small Cap Feast 05/08/22

Dish of the day Joiners: Inteliqo Limited has joined the Access Segment of AQSE Growth Market. Inteliqo Limited provides sales, marketing and distribution services to technology product owners. Leavers: Menzies (John) plc and Sanne Group have left the Premium Segment of the Main Market. What’s cooking in the IPO kitchen?** Unigel Group, intends to join the Aquis Growth Market. Unigel Group is a pioneer in the field of thixotropic gels for the fibre optic cable industry. The Company is also a sup

Morning Note – 5 August 2022

The Hardman & Co Monthly: August 2022

Feature article: Utility regulation – Changes afoot - Patching up a tainted model While the gas supply crisis – and its price implications – have dominated the UK price regulated sectors in recent months, other issues have arisen that have seriously tainted the price regulation system itself. Indeed, it is fair to ask whether it is ‘’fit for purpose’’. Back in 1984, price regulation, via an unsophisticated RPI-x formula, was introduced to prevent the privatised British Telecom (BT) from abusin

FY22 results and a highly visible outlook

For the year to 30 April 2022 Kromek reported results in line with the Trading Update of 16 May: revenue of £12.1m, +16.5%YoY, and an EBITDA (adj.) loss of £1.2m. We estimate revenue in the Advanced Imaging division grew 28% YoY to £4.6m, whilst the CBRN segment grew 1.5x to £5.4m. Kromek reports that it expects growth to accelerate in both its core segments – security-related CBRN and advanced imaging – with the prospect of “a substantial year-on-year increase in revenue”. The CBRN segment in

In-line H1; but sustained downturn in generics spooks investors

Hikma ended the H1 on a weak note, with decent growth in Injectables and Branded segments being largely offset by a decline in the Generics franchise. Also, the weaker H1 led to a second downward revision to the full-year 2022 outlook for Generics in the last three months. Nevertheless, these are only transient concerns and the firm’s attractiveness remains intact on the back of the robust long-term virtues of the generics market, and the group’s leading position in the target markets.

LIBERUM: ReNeuron* - Signed, sealed, delivered (I'm yours)

Hybridan Small Cap Feast 16/06/2022

*A corporate client of Hybridan LLP Dish of the day Joiners: No Joiners Today. Leavers: No Leavers Today. What’s cooking in the IPO kitchen? LifeSafe Holdings, a fire safety technology business with innovative fire safety products, intends to join AIM. LifeSafe has developed what the Directors believe to be market disrupting, eco-friendly fire safety protection products to both protect (via fire extinguishers) and detect (via carbon monoxide, smoke and heat alarms) fires. At the cent

Cenkos: Creo Medical Group Plc -- Core tech driven positive update

Creo Medical has provided a positive trading update for H1/22E, expecting revenues to increase over 10% vs H2/21A (£12.3m), indicating revenues of c£13.5m for the period. Creo notes this growth is driven by its core technology and Kamaptive licensing programme. The company expects gross margins to improve, which, coupled with a reduction in operating costs, should deliver over a 20% reduction in underlying EBITDA loss versus H2/21A. H1/22E cash burn has also been reduced. During the half there h

Growth on an accelerating path

Smith & Nephew’s growth acceleration and margin expansion in Q2 should continue in H215, more reflecting internal changes than improvements in market fundamentals. Its c 13% premium on 2015 P/E to its global ortho peers is supported by its brisker growth and strategic value.