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How to invest in the Comet Resources IPO

UPDATE: Comet Resources has withdrawn its initial public offering.

What we know so far

Offer price: $0.20
Proposed code: CRL
Expected raise: $27,000,000
Expected listing: Withdrawn
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Base metal, precious metals, industrial and development company Comet Resources is set to list on the Australian Securities Exchange (ASX). This means you'll soon be able to buy company shares through a broker.

Comet Resources targeted a raise of $27,000,000 at $0.20 a share in its initial public offering (IPO). While the dates and prices may change, the company is pegged to begin trading publicly on the on Withdrawn.

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.

Where to invest in the Comet Resources IPO

You can invest in pre-IPO stock through a participating broker or lead manager before the offer closes on 27 March 2023. In this case, the Comet Resources IPO is being lead managed by Peloton Capital Pty Ltd, Aitken Mount Capital Partners Pty Ltd and Shaw and Partners Limited.

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 Comet Resources once it goes public. You can do that through a share trading platform:

How to buy shares when Comet Resources lists

  1. Compare share trading platforms. To buy shares in an Australian-listed company, you'll need to sign up to a broker with access to the Australian Securities Exchange (ASX). Our table below can help you choose.
  2. Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and tax file number. Fund your account with a bank transfer, PayPal or debit card.
  3. Search for Comet Resources. Find the share by name or ticker symbol: CRL. You can also search for any other shares traded publicly on exchanges available within your chosen platform.
  4. Purchase now or later. Buy today with a market order or use a limit order to delay your purchase until Comet Resources reaches your desired price. To spread out your risk, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
  5. Decide on how many to buy. At price of at you're buying the shares, weigh your budget against a diversified portfolio that can minimise risk through the market's ups and downs.
  6. Check in on your investment. Congratulations, you own a part of Comet Resources. Optimise your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.

What we know about the Comet Resources IPO

Comet Resources lodged its prospectus with the Australian Securities and Investments Commission (ASIC) to list on the under the ticker symbol CRL.

Peloton Capital Pty Ltd, Aitken Mount Capital Partners Pty Ltd and Shaw and Partners Limited were appointed as lead managers with an expected raise of $27,000,000 at $0.20 per share. You can check out some of the key dates and figures in the table below:


Comet Resources IPO key numbers
Offer price $0.20
Dividend yield 0%
Total number of shares available under the offer 135,000,000
Proposed ASX code ASX: CRL
Target market cap $61,181,849
Retail offer opens 6 March 2023
Retail offer closes 27 March 2023
Expected listing on ASX Withdrawn
Expected dispatch of holding statements 30 March 2023
Source: Comet Resources prospectus

According to latest information available, retail investors (regular investors) have between 6 March 2023 and 27 March 2023 to participate in the Comet Resources IPO. After the retail offer close date, you'll need to wait until the stock is publicly available on the to buy shares.

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The value of your investments can fall as well as rise and you may get back less than you invested. Past performance is no indication of future results.
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Balance sheet

In FY22, the company earned $4,035,515 income. Estimated net profit (NPAT) in FY22 was $412,672, and -$3,351,273 in the prior year.

Company history

Comet Resources was incorporated in 1993 and is based in Perth, Western Australia.

How do I buy shares?

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades. Read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the product on the provider's website.

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