What we know so far
|Expected raise:||$1,500,000 – $3,000,000|
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Mineral exploration and development company Golden Cross Resources 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 Martin Place 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 Golden Cross Resources once it goes public. To do that, you'll need to be signed up to a share trading platform:
Golden Cross Resources lodged its prospectus with the Australian Securities and Investments Commission (ASIC) to list on the ASX under the ticker symbol GCR.
Martin Place Securities Pty Ltd were appointed as lead managers with an expected raise of $1,500,000 – $3,000,000 at $0.30 per share. You can check out some of the key dates and figures in the table below:
|Golden Cross Resources IPO key numbers|
|Total number of shares available under the offer||10,000,000|
|Proposed ASX code||ASX: GCR|
|Target market cap||$32,901,268 – $34,401,268|
|Retail offer opens||6 December 2021|
|Retail offer closes||5 January 2022|
|Expected listing on ASX||TBA|
|Expected dispatch of holding statements||17 January 2022|
According to latest information available, retail investors (regular investors) have between 6 December 2021 and 5 January 2022 to participate in the Golden Cross Resources 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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