What we know so far
Offer price: | $0.20 |
Proposed code: | FG1 |
Expected raise: | $7 million – $10 million |
Expected listing: | 10 May 2021 |
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Gold-exploration company Flynn Gold is expected to list soon on the Australian Securities Exchange (ASX), which means that you'll have the option of buying shares. Here's what we know about the initial public offering, including how to invest before it lists and how to buy in when it launches.
Flynn Gold is looking to raise $7 million – $10 million at $0.20 a share. Although the dates and prices may change, at this stage the company is expected to list on the ASX on 10 May 2021.
To invest in an IPO, you'll usually need to be registered with a participating broker or lead manager. This can be tricky for retail investors because there are usually only a few firms allocated for each IPO and they're typically full-service stockbrokers. In this case, the IPO is being lead managed by Taylor Collison Limited.
If you're already registered with a broker, it always pays to check if they're offering IPO stock, as lead managers sometimes allocate a portion of shares on to other firms. Your other option is to buy shares in Flynn Gold once it goes public. To do that, you'll need to be signed up to a share trading platform:
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Flynn Gold lodged its prospectus with the Australian Securities and Investments Commission (ASIC) to list on the ASX under the ticker symbol FG1.
Taylor Collison Limited were appointed as lead managers with an expected raise of $7 million – $10 million at $0.20 per share. You can check out some of the key dates and figures in the table below:
Flynn Gold IPO key numbers | |
---|---|
Offer price | $0.20 |
Dividend yield | 0% |
Total number of shares available under the offer | 35 million – 50 million |
Proposed ASX code | ASX: FG1 |
Target market cap | $15.8 million – $19.0 million |
Retail offer opens | 7 April 2021 |
Retail offer closes | 23 April 2021 |
Expected listing on ASX | 10 May 2021 |
Expected dispatch of holding statements | 4 May 2021 |
According to latest information available, retail investors (regular investors) have between 7 April 2021 and 23 April 2021 to participate in the Flynn Gold IPO. After the retail offer close date, you'll need to wait until the stock is publicly available on the ASX to buy shares.