What we know so far
|Expected raise:||$6,000,000 - $7,000,000|
Australian mining and exploration company Andean Mining is set to list on the Australian Securities Exchange (ASX). This means you'll soon be able to buy company shares through a broker.Here's what we know about the initial public offering (IPO), including how to invest before it lists and how to buy in when it lists.
You can invest in pre-IPO stock through a participating broker or lead manager before the offer closes on 9 December 2021. In this case, the Andean Mining IPO is being lead managed by Novus Capital.
If you're already registered with a broker, check if they're offering pre-listed stock or think about signing up to a participating broker.
However, it can be tricky for regular investors to participate in IPOs because only a few firms are usually allocated pre-IPO stock. In most cases, these are full-service brokers that require a large initial deposit.
Your other easier option is to buy shares in Andean Mining once it goes public. You can do that through a share trading platform:
Andean Mining lodged its prospectus with the Australian Securities and Investments Commission (ASIC) to list on the ASX under the ticker symbol ADM.
Novus Capital were appointed as lead managers with an expected raise of $6,000,000 - $7,000,000 at $0.20 per share. You can check out some of the key dates and figures in the table below:
|Andean Mining IPO key numbers|
|Total number of shares available under the offer||30,000,000 - 35,000,000|
|Proposed ASX code||ASX: ADM|
|Target market cap||$15,349,631 - $16,349,631|
|Retail offer opens||9 November 2021|
|Retail offer closes||9 December 2021|
|Expected listing on ASX||Withdrawn|
|Expected dispatch of holding statements||16 December 2021|
According to latest information available, retail investors (regular investors) have between 9 November 2021 and 9 December 2021 to participate in the Andean Mining IPO. After the retail offer close date, you'll need to wait until the stock is publicly available on the ASX to buy shares.
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