What we know so far
|Expected listing:||1 November 2023|
A company incorporated to evaluate and secure investment possibilities in the resources industry and uncover economically significant mineral reserves Western Australia Energy Resources is set to list on the Australian Securities Exchange (ASX). This means you'll soon be able to buy company shares through a broker.
Western Australia Energy Resources targeted a raise of $5,000,000 at $0.20 a share in its initial public offering (IPO). While the dates and prices may change, the company is pegged to begin trading publicly on the ASX on 1 November 2023.
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 22 March 2023. In this case, the Western Australia Energy Resources IPO is being lead managed by Alto Capital.
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 Western Australia Energy Resources once it goes public. You can do that through a share trading platform:
Western Australia Energy Resources lodged its prospectus with the Australian Securities and Investments Commission (ASIC) to list on the ASX under the ticker symbol WER.
Alto Capital were appointed as lead managers with an expected raise of $5,000,000 at $0.20 per share. You can check out some of the key dates and figures in the table below:
|Western Australia Energy Resources IPO key numbers|
|Total number of shares available under the offer||25,000,000|
|Proposed ASX code||ASX: WER|
|Target market cap||$19,200,000|
|Retail offer opens||22 February 2023|
|Retail offer closes||22 March 2023|
|Expected listing on ASX||1 November 2023|
|Expected dispatch of holding statements||5 April 2023|
According to latest information available, retail investors (regular investors) have between 22 February 2023 and 22 March 2023 to participate in the Western Australia Energy 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.
Western Australia Energy Resources launched in 2022 by - and is headquartered in Newcastle Street, Perth WA 6000.
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