What we know so far
|Expected raise:||$3,000,000 – $5,000,000|
Organic CBD production company Dragonfly Biosciences 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 4 May 2023. In this case, the Dragonfly Biosciences IPO is being lead managed by Finexia Securities Limited and Lazarus Corporate Finance Pty Ltd.
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 Dragonfly Biosciences once it goes public. You can do that through a share trading platform:
Dragonfly Biosciences lodged its prospectus with the Australian Securities and Investments Commission (ASIC) to list on the ASX under the ticker symbol DRF.
Finexia Securities Limited and Lazarus Corporate Finance Pty Ltd were appointed as lead managers with an expected raise of $3,000,000 – $5,000,000 at $0.20 per share. You can check out some of the key dates and figures in the table below:
|Dragonfly Biosciences IPO key numbers|
|Total number of shares available under the offer||15,000,000 – 25,000,000|
|Proposed ASX code||ASX: DRF|
|Target market cap||$30,190,914 – $32,190,914|
|Retail offer opens||20 April 2023|
|Retail offer closes||4 May 2023|
|Expected listing on ASX||TBA|
|Expected dispatch of holding statements||8 May 2023|
According to latest information available, retail investors (regular investors) have between 20 April 2023 and 4 May 2023 to participate in the Dragonfly Biosciences IPO. After the retail offer close date, you'll need to wait until the stock is publicly available on the ASX to buy shares.
Dragonfly Biosciences launched in 2017 by Ben Langley and is headquartered in Sydney, NSW 2000.
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