What we know so far
| Offer price: | $0.20 |
| Proposed code: | SUM |
| Expected raise: | $4,500,000 – $5,500,000 |
| Expected listing: | Week commencing 20 June 2022 |
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Australian Focused Battery Mineral Explorer Summit Minerals is set to list soon on the Australian Securities Exchange (ASX), which means that you'll be able to buy company shares.
Summit Minerals had looked to raise $4,500,000 – $5,500,000 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 Week commencing 20 June 2022.
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.
How to invest in the Summit Minerals IPO
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 Barclay Wells Limited.
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 Summit Minerals once it goes public. To do that, you'll need to be signed up to a share trading platform:
How to buy shares when Summit Minerals lists
- Compare share trading platforms. To buy shares in an Australian-listed company, you'll need to sign up to a broker with access to the Australian Securities Exchange (ASX). Our table below can help you choose.
- Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and tax file number. Fund your account with a bank transfer, PayPal or debit card.
- Search for Summit Minerals. Find the share by name or ticker symbol: SUM. You can also search for any other shares traded publicly on exchanges available within your chosen platform.
- Purchase now or later. Buy today with a market order or use a limit order to delay your purchase until Summit Minerals reaches your desired price. To spread out your risk, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
- Decide on how many to buy. At price of at you're buying the shares, weigh your budget against a diversified portfolio that can minimise risk through the market's ups and downs.
- Check in on your investment. Congratulations, you own a part of Summit Minerals. Optimise your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.
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What we know about the Summit Minerals IPO
Summit Minerals lodged its prospectus with the Australian Securities and Investments Commission (ASIC) to list on the ASX under the ticker symbol SUM.
Barclay Wells Limited were appointed as lead managers with an expected raise of $4,500,000 – $5,500,000 at $0.20 per share. You can check out some of the key dates and figures in the table below:
| Summit Minerals IPO key numbers | |
|---|---|
| Offer price | $0.20 |
| Dividend yield | 0% |
| Total number of shares available under the offer | 22,500,000 - 27,500,000 |
| Proposed ASX code | ASX: SUM |
| Target market cap | $6,875,020 –$7,875,020 |
| Retail offer opens | 13 May 2022 |
| Retail offer closes | 27 May 2022 |
| Expected listing on ASX | Week commencing 20 June 2022 |
| Expected dispatch of holding statements | 8 June 2022 |
According to latest information available, retail investors (regular investors) have between 13 May 2022 and 27 May 2022 to participate in the Summit Minerals IPO. After the retail offer close date, you'll need to wait until the stock is publicly available on the ASX to buy shares.
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The value of your investments can fall as well as rise and you may get back less than you invested. Past performance is no indication of future results.
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Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.
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