What we know so far
Offer price: | $0.20 |
Proposed code: | SS1 |
Expected raise: | $10,000,000 – $13,000,000 |
Expected listing: | 5 June 2024 |
Exploration and development company Sun Silver is set to list on the Australian Securities Exchange (ASX). This means you'll soon be able to buy company shares through a broker.
Sun Silver targeted a raise of $10,000,000 – $13,000,000 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 5 June 2024.
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 17 May 2024. In this case, the Sun Silver IPO is being lead managed by Wagtail Capital Pty Ltd and Hamilton Locke Pty Ltd.
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 Sun Silver once it goes public. You can do that through a share trading platform:
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Sun Silver lodged its prospectus with the Australian Securities and Investments Commission (ASIC) to list on the ASX under the ticker symbol SS1.
Wagtail Capital Pty Ltd and Hamilton Locke Pty Ltd were appointed as lead managers with an expected raise of $10,000,000 – $13,000,000 at $0.20 per share. You can check out some of the key dates and figures in the table below:
Sun Silver IPO key numbers | |
---|---|
Offer price | $0.20 |
Dividend yield | 0% |
Total number of shares available under the offer | 50,000,000 – 65,000,000 |
Proposed ASX code | ASX: SS1 |
Target market cap | $21,995,000 – $24,995,000 |
Retail offer opens | 18 April 2024 |
Retail offer closes | 17 May 2024 |
Expected listing on ASX | 5 June 2024 |
Expected dispatch of holding statements | 28 May 2024 |
According to latest information available, retail investors (regular investors) have between 18 April 2024 and 17 May 2024 to participate in the Sun Silver IPO. After the retail offer close date, you'll need to wait until the stock is publicly available on the ASX to buy shares.
Sun Silver was founded this year and is in an early growth stage of development.
Sun Silver launched in 2024 by - and is headquartered in East Perth, WA.
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