What we know so far
|Expected raise:||$15 million|
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Australian public minerals exploration company Demetallica is set to list soon on the Australian Securities Exchange (ASX), which means that you'll be able to buy company shares. 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 Euroz Hartleys, and Argonaut.
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 Demetallica once it goes public. To do that, you'll need to be signed up to a share trading platform:
Demetallica lodged its prospectus with the Australian Securities and Investments Commission (ASIC) to list on the ASX under the ticker symbol DRM.
Euroz Hartleys, and Argonaut were appointed as lead managers with an expected raise of $15 million at $0.25 per share. You can check out some of the key dates and figures in the table below:
|Demetallica IPO key numbers|
|Total number of shares available under the offer||48,000,000 - 60,000,000|
|Proposed ASX code||ASX: DRM|
|Target market cap||$20,940,813 – $23,940,813|
|Retail offer opens||16 April 2022|
|Retail offer closes||29 April 2022|
|Expected listing on ASX||TBA|
|Expected dispatch of holding statements||9 May 2022|
According to latest information available, retail investors (regular investors) have between 16 April 2022 and 29 April 2022 to participate in the Demetallica 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.
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