What we know so far
|Expected raise:||$5,000,000 - $6,000,000|
|Expected listing:||6 December 2021|
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Mineral exploration company Larvotto Resources is set to list soon on the Australian Securities Exchange (ASX), which means that you'll be able to buy company shares.
Larvotto Resources had looked to raise $5,000,000 - $6,000,000 at $0.20 a share in its initial public offering (IPO). Although the dates and prices may change, the company is pegged to begin trading publicly on the ASX on 6 December 2021.
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 Canaccord Genuity (Australia) Limited and Aitken Murray Capital Partners .
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 Larvotto Resources once it goes public. To do that, you'll need to be signed up to a share trading platform:
Larvotto Resources lodged its prospectus with the Australian Securities and Investments Commission (ASIC) to list on the ASX under the ticker symbol LRV.
Canaccord Genuity (Australia) Limited and Aitken Murray Capital Partners were appointed as lead managers with an expected raise of $5,000,000 - $6,000,000 at $0.20 per share. You can check out some of the key dates and figures in the table below:
|Larvotto Resources IPO key numbers|
|Total number of shares available under the offer||25,000,000 - 30,000,000|
|Proposed ASX code||ASX: LRV|
|Target market cap||$10,164,001 - $11,164,001|
|Retail offer opens||26 October 2021|
|Retail offer closes||16 November 2021|
|Expected listing on ASX||6 December 2021|
|Expected dispatch of holding statements||1 December 2021|
According to latest information available, retail investors (regular investors) have between 26 October 2021 and 16 November 2021 to participate in the Larvotto 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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