What we know so far
|Expected raise:||$8,000,000 – $10,000,000|
|Expected listing:||15 December 2021|
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Base metals exploration company Armada Metals is set to list soon on the Australian Securities Exchange (ASX), which means that you'll be able to buy company shares.
Armada Metals had looked to raise $8,000,000 – $10,000,000 at $0.20 a share in its initial public offering (IPO). Although the dates and prices may change, the company is pegged to begin trading publicly on the ASX on 15 December 2021.
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.
To invest in an IPO, you'll typically need to be registered with a participating broker or lead manager. This can be tricky for regular investors because only a few firms are allocated IPO stock and they're most often full-service brokers. In this case, the IPO is being lead managed by Canaccord Genuity (Australia) Limited, and PAC Partners Securities Pty Ltd.
If you're already registered with a broker, it always pays to check if they're offering pre-listed IPO stock, as lead managers sometimes allocate a portion of shares on to other firms. Your other option is to buy shares in Armada Metals once it goes public. To do that, you'll need to be signed up to a share trading platform:
Armada Metals lodged its prospectus with the Australian Securities and Investments Commission (ASIC) to list on the ASX under the ticker symbol AMM.
Canaccord Genuity (Australia) Limited, and PAC Partners Securities Pty Ltd were appointed as lead managers with an expected raise of $8,000,000 – $10,000,000 at $0.20 per share. You can check out some of the key dates and figures in the table below:
|Armada Metals IPO key numbers|
|Total number of shares available under the offer||40,000,000 – 50,000,000|
|Proposed ASX code||ASX: AMM|
|Target market cap||$18,800,000|
|Retail offer opens||17 November 2021|
|Retail offer closes||24 November 2021|
|Expected listing on ASX||15 December 2021|
|Expected dispatch of holding statements||7 December 2021|
According to latest information available, retail investors (regular investors) have between 17 November 2021 and 24 November 2021 to participate in the Armada Metals IPO. After the retail offer close date, you'll need to wait until the stock is publicly available on the ASX to buy shares.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Armada Metals launched in 2021 by and is headquartered in Sydney, New South Wales, 2000.
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