Greater access to IPOs through OnMarket BookBuilds

amscot has partnered with OnMarket BookBuilds to provide our clients with even more investment opportunities. In addition to the exclusive capital raisings that amscot undertakes and offers to our clients, you can now take advantage of offers from OnMarket. Our association with OnMarket will allow you to bid directly on IPOs and have the shares allocated straight to your holdings at amscot. Through OnMarket our clients will also be able to access free research, management interviews and get notifications on upcoming IPOs.

OnMarket is Australia’s first online platform that lets all investors buy shares in IPOs free of any fees other than the cost of the shares. Since launching in October 2015 OnMarket has hosted 1 in 3 ASX IPOs, so we are obviously excited to be able to offer our clients access to this cutting-edge platform. For each offer hosted by OnMarket you get easy bidding & payment, free independent research, and a chance to 'meet the management' via exclusive video interviews. Best of all, when you invest in IPOs via OnMarket, any shares you buy can be allocated directly to your amscot Stockbroking account so you can manage your portfolio without disruption.

How does it work?

We will display the list of current offers from OnMarket on our website. If you see an offer that you want to invest in then click on the Bid Now button to apply for shares. You will leave amscot website and be redirected to our partner's (OnMarket) bidding platform where you will need to sign up with your Holder Identification Number (HIN). If you have already signed up then you will be taken straight to the bidding page for the selected offer.

It is important that you enter your HIN correctly when you set up your login at OnMarket. This will make for a seamless experience if you want your shares to be automatically allocated to your amscot account.

Current OnMarket Offers

IPO
Biotech
$0.20
Size of Offer $5.2 million
Minimum Bid $2,000.00
Opening Date 19/10/2018
Closing Date 23/10/2018

 

Update: IPO closing early via OnMarket. Apply and pay now to avoid missing out.

 

OnMarket has a limited allocation. The offer may close early and the 'Pay By' dates may change. Bids over $4,000 may be scaled back more heavily. ​As we have a limited allocation, we cannot guarantee that all funded bids will receive an allocation.

Introduction

Fiji Kava Ltd (ASX: FIJ) is primarily a biotechnology company whose research and development aspirations are underpinned by an existing business selling kava extracts as a consumer product. The Company considers that the scale-up and improvement of the underlying kava retail business will be synergistic to the development of additional products and intellectual property from kavalactone research.

The Company currently sources, produces and markets high quality kava-based products and intends to export and sell in Australia, USA, New Zealand and Hong Kong. These products include shots, powders, and capsules and are designed to promote relaxation, enhance sleep and reduce stress.

The Company has been issued a Foreign Investment Registration Certificate, which permits it to undertake commercial agriculture for the purposes of cultivating kava. It also permits the farming, processing and manufacture of kava and kava related products for wholesale, retail and export. This is the first time a foreign investor has been granted approval since the Fijian Foreign Investment Act was amended to allow this to be granted on a case by case basis.

For research purposes, a 111-acre nucleus farm has been established on the island of Ovalau, Fiji, to supply the highest quality kava possible through tissue culture and mass propagation. The Company also leases a separate facility for its kava processing and extraction, using in-house know-how. The Company’s intellectual property is a trade secret, with its employees and contractors entering non-disclosure agreements.

Offer overview

Fiji Kava Ltd is looking to raise $5.2 million via its IPO at $0.20 per share.

The Company has entered into the Heads of Agreement pursuant to which it has conditionally agreed to acquire 100% of the issued shares in SPE Singapore and SPE Fiji (which together comprises the Fiji Kava Group).

The proceeds from the Offer will be used for:

  • undertaking human clinical trials in consultation with the National Institute of Complementary Medicine (NICM);
  • expanding the Company’s Farms in Fiji and exploring other potential sites;
  • establishing a tissue culture laboratory to accelerate the propagation of selected kava varieties;
  • expanding into the wholesale and retail nutraceutical markets;
  • repayment of loans extended to SPE Singapore and SPE Fiji;
  • expenses of the Offer and administration costs; and
  • working capital.

What is Kava

Kava (scientific name Piper methysticum) is a traditional crop grown in a number of Pacific countries. Traditionally, it is prepared by grinding and mixing the root or root bark with water and drunk in social and ceremonial settings, due to its calming and relaxing properties.

Current research suggests that kava may be an effective short-term treatment for generalised anxiety, providing a viable alternative to commonly prescribed benzodiazepines such as Valium and Xanax, often with side effects.

The Products

In addition to its research and development activities, Fiji Kava currently sources, produces and markets high quality kava products for export to selected jurisdictions. “Taki Mai” branded kava supplements and complementary medicines (nutraceuticals) are currently being produced by SPE Fiji and have been sold in Australia, USA, New Zealand, Hong Kong and Fiji. The Taki Mai branded products meet strict international standards from local authorities, (at present being the Food and Drug Administration (FDA) in the United States and the Therapeutic Goods Administration (TGA) in Australia.

These kava-based products are designed to promote relaxation, enhance sleep and reduce stress. Sales channels include direct to consumer via online participants such as Amazon and wholesale. The Fiji Kava has already produced three types of products in the market: shots, powders, and capsules.

Business Objectives and Features

The key business objectives of the Company on completion of the Offer are:

  • human clinical trials to be developed in consultation with the National Institute of Complementary Medicine (NICM) and the Scientific Advisory Board in order to establish the efficacy and safety of the Company’s products, and to develop novel kava extracts and kava combination products.
  • the primary production of medicinal kava through a network of outsourced kava farms and via its own Farm located in Fiji; and
  • the production and sale of kava supplements and complimentary medicines.

The key features of the Company’s business model are:

  • high level scientific research in order to produce specific plant varieties of the kava plant;
  • a network of Fijian kava farmers to produce high quality kava;
  • the selection of kava farms which are ethically and sustainably run;
  • sales channels include direct sales through online participants including Amazon, and wholesale; and
  • the Fiji Kava Group has already produced three products (shots, powders and capsules) and the Company intends to increase this product range.

Management and Board

Fiji Kava Ltd will be managed by Directors with industry knowledge, technical, commercial and financial skills. These include:

  • Dr Andrew Kelly, proposed Chairman.  He is currently Executive Director and Co-Founder of BioPacific Partners, a biotech investment and consulting firm focused on providing new product development services to many of the world’s largest pharmaceutical and consumer health companies.
  • Zane Yoshida, proposed Managing Director.  Zane is the founder and CEO of South Pacific Elixirs Pte Ltd (SPE Singapore) and was born and raised in the Fiji Islands.
  • Stephen Copplin, proposed Executive Director. Stephen has been a Director of SPE Singapore since early in its inception and has worked closely with Zane Yoshida during that time to develop the business.

Risks

You are encouraged to read the Prospectus carefully as it contains detailed information about the Company and the Offer. Like all investments, an investment in the Company carries risk. As set out in Section 4 of the prospectus, Fiji Kava Ltd is subject to a range of risks, including but not limited to a market access and product acceptance, research and development, competition and a limited operating history.

 

Section 734(6) disclosure: The issuer of the securities is Fiji Kava Limited ACN 169 441 874. The securities to be issued are ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).​

Allocation Methadology

OnMarket has a limited allocation. The offer may close early and the 'Pay By' dates may change. Bids over $4,000 may be scaled back more heavily. Duplicate bids under the same investment profile, investor name or residential address may be cancelled.​

IPO
Financials
$2.50
Size of Offer Up to $500 million
Minimum Bid $2,500.00
Opening Date 15/10/2018
Closing Date 6/11/2018

 

OnMarket is proud to be acting as a Broker to the Offer for the Hearts and Minds Investments Ltd IPO.

Introduction

Hearts and Minds Investments Ltd (ASX: HM1) been established with the combined objective of providing a concentrated securities portfolio of the highest conviction ideas from leading Fund Managers, while also supporting Australian medical research institutes. The Company seeks to provide Shareholders with a compelling and attractive investment proposition by creating a concentrated portfolio of long positions (Portfolio) in approximately 25 Australian and international listed securities.

The Offer has already attracted strong support with pre-commitments exceeding $225 million from a number of sophisticated Australian family investors, the directors, the LIC’s investment committee, its CEO and the Core Fund Managers.

The Company will provide financial funding to leading Australian medical research institutes in order to support the development of new medicine and drive a new generation of medical research in Australia. All investment fees will be forgone, instead donate a Donation Amount which will be distributed to the Designated Charities every six months.

“The LIC’s diversified portfolio means investors are not restricted by the philosophy or investment thesis of a single fund manager. Each fund manager brings a different expertise and a number of them are not readily accessible to retail investors,” Chris Cuffe, Chairman and Investment Committee member of HM1.

Offer Overview

Hearts and Minds Investments Ltd is seeking to raise between $200 million and $500 via its IPO at $2.50 per share.

Investment Strategy

The Company’s investment strategy is to create a concentrated portfolio of long only positions in Securities. The Portfolio will comprise approximately 25 Securities based on the highest conviction ideas from two groups of Fund Managers:

  • Core Fund Managers: 60% of the Portfolio will be held in approximately 15 securities based on the quarterly recommendations of five leading fund managers: Caledonia, Cooper Investors, Magellan, Paradice Investment Management and Regal Funds Management; and
  • Conference Fund Managers: 40% of the LIC’s portfolio will be held in approximately 10 stocks based on the recommendations of fund managers presenting at the annual Sohn Hearts and Minds Investment Conference.

Core fund managers

The table below details the returns from the long recommendations made by fund managers at the 2016 and 2017 Sohn Hearts and Minds Investment Conferences. Please note, past performance is not indicative of future performance.

The Charitable Purpose

Whilst the primary intention of the Company is to provide Shareholders with an attractive investment alternative, the Company will forego any investment fees that are often payable in relation to listed investment companies. Instead, the Company will donate the Donation Amount to the Designated Charities every six months. The Donation Amount will be equal to 1.5% (plus GST) per annum of the average monthly NTA for the previous half-year.

The current intention of the Company is to apply the Donation Amount in the following manner:

  • 50% of the Donation Amount to be allocated in equal proportions to the Medical Research organisations
  • as nominated by each of the Core Fund Managers as a Designated Charity on a 12 month basis;
  • 40% of the Donation Amount to be allocated to the Conference founding medical research organisation,
  • The Victor Chang Institute; and
  • 10% of the Donation Amount to be allocated to an eligible Designated Charity(ies), at the discretion of the Board on a 12 month basis, (together, the Designated Charities).

Designated Charities

Directors and Key Personnel

Hearts and Minds Investments Ltd is led by a board who have a broad range of experience in investment management combined with financial and commercial expertise.  Key personnel include:

  • Chris Cuffe AO, entered the funds management industry in 1985. In 1988 he joined Colonial First State where he was CEO from 1990 until 2003. In 2003 he became CEO of the listed Challenger Group.  Chris is now involved in a portfolio of activities in the investment and non-profit sectors; 
  • Lorraine Berends, worked in the financial services industry for over 35 years and possesses extensive experience in both investment management and superannuation;
  • Guy Fowler, Proposed Director and co-founder of the Hearts and Minds Investment Leaders Conference.  He has worked in a range of senior positions at UBS Australia for over 25 years;
  • Matthew Grounds, Proposed Director co-founder of the Hearts and Minds Investment Leaders Conference. He is currently the CEO of UBS Australia a role he has held for over ten years. Over the past 24 years, Matthew has held a variety of other senior roles at UBS including Joint Global Head of the Investment Banking business;
  • Michael Traill AM founded Social Ventures Australia in 2002, after 15 years as a co-founder and Executive Director of Macquarie Group’s private equity arm, Macquarie Direct Investment.
  • Gary Weiss is currently the Executive Director of Ariadne Australia Limited. Dr Weiss is Chairman of Ardent Leisure Group, Ridley Corporation Ltd and Estia Health Ltd, and a Non-Executive Director of Thorney Opportunities Ltd and The Straits Trading Company Limited.;
  • Geoff Wilson AO - has over 38 years’ direct experience in investment markets having held a variety of senior investment roles in Australia, the UK and the US. Geoff founded Wilson Asset Management in 1997. Geoff created Australia’s first listed philanthropic wealth creation vehicles; and
  • David Wright is a Managing Partner and joint founder of Zenith Investment Partners and has extensive experience researching, assessing and rating many forms of managed investments.

Risks

You are encouraged to read the Prospectus carefully as it contains detailed information about the Company and the Offer. Like all investments, an investment in the Company carries risk. As set out in Section 6 of the prospectus, Hearts and Mind Investments Ltd is subject to a range of risks, including but not limited to management risk, invest strategy, market conditions, currency and equity risk.

 

Section 734(6) disclosure: The issuer of the securities is Hearts and Minds Investments Limited ACN 628 753 220. The securities to be issued are ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).​

OnMarket has a limited allocation. The offer may close early and the 'Pay By' dates may change. Bids over $10,000 may be scaled back more heavily. Duplicate bids under the same investment profile, investor name or residential address may be cancelled.

IPO
Software & Services
$0.35
Size of Offer $10 million
Minimum Bid $2,100.00
Opening Date 28/09/2018
Closing Date 24/10/2018

Introduction

Shekel Brainweigh Ltd (ASX: SBW) is a profitable company developing, manufacturing, marketing and distributing advanced weighing systems for the retail, healthcare and industrial markets for over 40 years.

It was an early participant in the development of digital scaling in the 1970s, and provides precision weighing solutions to customers including Toshiba, Fujitsu, Datalogic, Diebold-Nixdorf and GE Healthcare.

Shekel Brainweigh has established a network of global partners and clients in the retail and healthcare markets. The company designs and manufactures weighing systems for original equipment manufacturers (OEMs) including GE Healthcare, Toshiba, Fujitsu, Diebold-Nixdorf and Datalogic. These relationships provide Shekel Brainweigh with the data and testing ground to optimise its designs, as well as a broad distribution network for both existing and proposed new products. Geographically, Shekel Brainweigh’s products are sold across Australia, North and South America, China, Europe, Japan, New Zealand, Israel and Africa.  Through this focus on the OEM market, Shekel Brainweigh has accelerated its revenue streams without the up-front costs of marketing and sales.

Recently, Shekel Brainweigh has developed its Product Aware Surface Technology. This Technology allows real-time identification of individual products and objects placed on a given surface (i.e. on a grocery shop shelf, etc.).

This exciting technology will allow retailers to know exactly what is on their shelf at any time and to track consumer behaviour, reducing the huge out of stock and overstock issues that supermarkets currently face.  Given Shekel’s scale and weighing technology has been present in some of the world’s largest supermarkets for many years, this should give them a huge head start in introducing this new technology to the major players.

The business model for this “Smart Shelf” technology is based around a Software as a Service (SaaS) model.

Offer Overview

Shekel Brainweigh Ltd is seeking to raise $10.15 million via its IPO and on listing, the expected market capitalisation of approximately $48.65 million

The proceeds from the offer will be used to fund:

  • research and development;
  • manufacturing;
  • sales and marketing costs;
  • provide working capital; and
  • cover the costs of the offer.

Generation of Revenue

The Company currently generates income primarily from sales of scaling solutions and weighing systems to OEMs in the retail and healthcare sector globally and to industrial customers in Israel. Income is also derived from the sale of branded weighing products to the healthcare industry globally.

The Company also generates income from the provision of after-sales service to customers in Israel and France.

The following table sets out the consolidated revenue, gross profit, operating profit and profit after tax of the Group for the financial years ended 31 December 2015, 2016 and 2017.

Products and Services

The Group currently designs and manufactures a wide range of high-precision weighing systems for retail, healthcare and industrial sectors. The range consists of small weighing systems that integrate into self-checkout and Point of Sale (POS) solutions as an OEM component. In addition, the Company’s precision weighing systems were one of the first in the world to be incorporated to warmers and incubators for premature babies and are now sold as an integrated component for such products.

The Company also produces its own range of physician’s scales, special needs scales (such as wheelchair and ramp scales) and domestic scales. The Company markets these products under the Healthweigh® brand. 

In addition to its existing products, the Company is developing and intends to sell the following products, which together comprise the Retail Solutions Suite:

  • Product-aware shelf: a shelf system using the Company’s Product Aware Surface Technology, which identifies the quantity and location of individual objects on the shelf in real-time, providing instant feedback on inventory levels and product rotation.
  • The Bay: composed of five product-aware shelves, providing a ready-to-install solution for retailers.
  • The Promotion Bay: located at store endcaps, this product provides accurate real-time data for retailers and CPG vendors in promotion campaign roll outs, inventory levels and consumer behaviour.
  • Innovendi: an autonomous vending machine utilising the Product Aware Surface Technology.
  • Singular: a real-time analytics solution for the retail sector with advanced, predictive deep learning capabilities.
  • Goopi: a cloud-based portal allowing retailers, based on a customer’s barcode scanning, to cheaply and quickly create customised digital video at check-out advertisements that can be delivered through a range of technology platforms.
  • iPC Scale: a digital scale for use at grocery store checkouts, which automatically recognises the fruit, vegetable, meat or other product that is being weighed.

Directors and Key Personnel

Shekel Brainweigh Ltd is led by a board who have a strong understanding of the technology, experience leading emerging technology companies from start-up to large scale profitable companies.  Key personnel include:

  • Dave Sharma, Non-Executive Chairman served as Australia’s Ambassador to Israel from 2013 to 2017 and is currently Director and Principal at Kelly+Partners Government, Incentives & Innovation practice.
  • Tzipi Avioz, Non-Executive External Director, previous Group Head of Digital Commerce at Woolworths Limited.
  • Yorman Ben Porat, Executive Director and CEO, In 1988 co-founded NUR Macroprinters Ltd, an Israeli-based international manufacturer of industrial digital printers. Between 1988 and 2000, Mr Ben Porat acted as CEO for NUR Macroprinters, during which time, in 1995, the company listed on NASDAQ.
  • Yedida Yossef, Deputy CEO with over 25 years’ managerial experience in product engineering and development in the telecommunications sector. He has deep exposure to taking products from the initial stages of development through manufacturing and production processes to introduction and distribution to both Israeli and international markets.  
  • Barak Nir, CFO over 25 years’ experience serving as chair, CEO and chief financial officer for several international private and public companies in the fields of technology, real estate, finance and electronics.
  • Guy Moshe, Chief Technology Officer and was the co-founder and chief executive officer of Supersmart Ltd, during which time he oversaw the development of an algorithm for shopping carts to become instant checkouts.  Mr Moshe also served as an officer in a technological unit of the Israeli Defence Force.

Risks

You are encouraged to read the Prospectus carefully as it contains detailed information about the Company and the Offer. Like all investments, an investment in the Company carries risk. As set out in Section 9 of the prospectus, Shekel Brainweigh Ltd is subject to a range of risks, including but not limited to intellectual property, reliance on key personnel, customer preference, development and commercialisation risks.

 

Section 734(6) disclosure: The issuer of the securities is Shekel Braingweigh Ltd ARBN 625 669 445. The securities to be issued are ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).​

OnMarket has a limited allocation. The offer may close early and the 'Pay By' dates may change. Bids over $10,000 may be scaled back more heavily. Duplicate bids under the same investment profile, investor name or residential address may be cancelled.

 

 

IPO
Tech. Equipment
$0.20
Size of Offer $4.5-6 million
Minimum Bid $2,000.00
Opening Date 26/09/2018
Closing Date 2/11/2018

Update:  The Lead Manager is pleased to advise that Nanoveu Ltd has now received commitments for subscriptions above its minimum raise target of $4.5m.   

Introduction

Nanoveu Limited (ASX: NVU) aims to become a market leading technology company by applying nanotechnology to deliver vision shaping applications to digital screens.  Nanoveu’s award-winning product, EyeFly3DTM, uses a combination of software (application) and hardware (screen protector) to offer real time, affordable and easy to use 3D rendering and 2D-to-3D instant conversion of videos and photos on smartphones and tablets – without the use of 3D glasses.

Nanoveu Pte Ltd is a Singaporean company which was established in 2012 to continue development of and commercialise nanoimprint science applications initiated by A*STAR.  Nanoveu Ltd was incorporated in February 2018 for the primary purpose of acquiring Nanoveu Pte Ltd (Nanoveu).  A*STAR’s Institute of Materials Research and Engineering worked with Temasek Polytechnic to develop a patented technology for an efficient and low-cost nanoimprint lithography (NIL) manufacturing process.

Nanoveu is also developing its complementary EyeFyx technology through its ongoing research and development program. Using the EyeFyx technology (which comprises a combination of hardware and software), the Company is working towards developing a product which aims to correct images for certain vision aberrations on high resolution digital devices, such as smartphones and tablets.

Offer overview

Nanoveu Limited is looking to raise between $4.5 - $6 million and will have an estimated market capitalisation of $26.5 million at maximum subscription. 

The proceeds from the Offer will be used for:

  • EyeFly and EyeFly3DTM product development, production and purchase of inventory;
  • Sales and marketing;
  • General working capital; and
  • the cost of the offer.

The Technology

The product development and test sales programs have been completed for the EyeFly3DTM product, and its “EyeFyx” technology is moving towards commercialisation following completion of the proof of concept stage.

EyeFly3DTM

The EyeFly3DTM is a nanoimprinted protective film that allows users to view 3D images, videos, and games on the go through their mobile devices. The protective screen protector is low-cost, thin, sensitive and flexible.  EyeFly3DTM screens are available in Polyethylene terephthalate (PET) or Tempered Glass, and is oleophobic and anti-fingerprint.  Users can download the mobile app and  view images and videos in 3D. They can also convert their 2D images into 3D.

Nanoveu’s EyeFly3DTM product utilises Nano Imprint Lithography (NIL) in the manufacturing process.  NIL is an advanced patterning technique effective for sub-100 nanometre applications. Advantages of using NIL in the manufacturing process include:

  • the pattern resolution of NIL is not limited by optical diffraction, as such, it does not require costly optics and specially formulated resist materials;
  • Nano imprinters capable of handling rolls with a width of over 1.5 metres are available making the production suitable to mass production; and
  • the NIL process is very flexible. It can accommodate a large variety of polymeric materials and commercially available resists. It is also compatible with either stiff or flexible substrate materials, particularly silicon, glass, or plastics.

EyeFyx

Using Eyefyx, the Company intends to offer the world’s first, commercial, ground-breaking solution of applying a simple nanotech-based screen protector over a smart device/tablet/laptop that works with the appropriate software to correct anyone with farsightedness (hyperopia) and presbyopia.

Nanoveu has developed a technique that adjusts images displayed on a digital device to enable users with hyperopia or presbyopia to view digital content without needing to wear their reading glasses. The technique uses special embedded software and nano-imprint lens technology to render a clear image onto the retina, as opposed to correcting the user’s vision with glasses. This process is illustrated below:

Nanoveu’s Revenue model

As Nanoveu’s EyeFly3DTM product is comprised of both a screen with nano-lenses (an active screen) and software (the EyeFly3DTM app), Nanoveu is able to generate revenue through sales of both hardware and software.

This is initially intended to be achieved through a retail strategy focussed on the US via shopping mall booths/shops/carts and online channels globally, with the aim of generating sufficient demand to transition to a primary wholesale distribution approach.

Growth Strategy

The US is the initial target market for which Nanoveu has established a team with retail sales experience and reach in the sector, plus established experience and reach selling to big box retailers

The Company plans to establish online channels and will engage in digital marketing campaigns to create awareness and harvest interest into sales.

The Company also intends to be proactive in searching for distributors, a key source for which is trade shows, plus the overall interest is expected to attract further enquiries.

Key Highlights

The key investment highlights for Nanoveu include:

  • a scalable business;
  • a product targeting the discretionary spend in the gaming and leisure market (EyeFly3DTM);
  • a product in development (EyeFyx) which is intended to provide a convenient solution for the growing aging population who require vision correcting glasses in order to view digital displays; and
  • potential to create significant shareholder value.

Management and Board

Nanoveu Limited is led by a carefully selected and experienced team with a broad range of business knowledge and skill base to commensurate with the requirements of the company. These include:

  • Alfred Chong, Executive Chairman and CEO.  Alfred is the Founder of Nanoveu and has a history of building companies and executing trade sales in California and Singapore. Alfred was the Asia Pacific CEO for Atex Media Command, a global provider of solutions and services to the media industry; CEO for THISS Technologies Inc, a satellite communications company; CEO for 121View, a digital signage company; and CMO at 3D International before founding Nanoveu.
  • Michael van Uffelen, Executive Director and CEO.  Michael is an experienced Director, CFO and Company Secretary actively engaged in managing companies and providing corporate advisory services with over 30 years’ experience in business management.
  • Steven Apedaile, Non-executive Director.  Steven has worked in the accounting profession for nearly 30 years, 25 of which were spent in Hong Kong with the first 7 years with KPMG Hong Kong and then 18 years with Horwath Hong Kong. Steven has experience in all facets of international business, corporate finance and forensic accounting services.
  • David Nicol, Non-executive Director.  David is a seasoned director and advisor for technology-based companies. He currently serves on four boards, two privately held and two public, both of the latter for which he chairs the Audit Committee.  David has held executive positions with three public companies - Verisign, Illuminet, and United Telecom/Sprint – and six early-stage, private companies.

Risks

You are encouraged to read the Prospectus carefully as it contains detailed information about the Company and the Offer. Like all investments, an investment in the Company carries risk. As set out in Section 8 of the prospectus, Nanoveu Limited is subject to a range of risks, including but not limited to research and development, intellectual property rights, competition and reliance on key personnel.

 

Section 734(6) disclosure: The issuer of the securities is Nanoveu Limited ACN 624 421 085. The securities to be issued are ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).​

OnMarket has a limited allocation. The offer may close early and the 'Pay By' dates may change. Bids over $10,000 may be scaled back more heavily. Duplicate bids under the same investment profile, investor name or residential address may be cancelled.

IPO
Software & Services
$0.25
Size of Offer Up to $7 million
Minimum Bid $2,000.00
Opening Date 11/10/2018
Closing Date 9/11/2018

Introduction

AXS Group Limited (ASX Code: AXS) is a global software provider of hosted, SaaS and cloud-based solutions to clients in the financial services and operates an end-to-end process architecture for clients in the wealth management sector.  The company has a track record of successfully tendering and integrating businesses into its ARMnet software with approximately over 75 third party systems integrations performed for clients with varying customised solutions found. The ARMnet platform uses cognitive processes, including robotic process automation and blockchain techniques to give real time output, reducing time and cutting costs.

AXS provides its clients with a digital transformation through its internally owned and developed software platform, ARMnet. The ARMnet platform is a customer relationship management (CRM) financial product management solution that is built on an industry standard Microsoft dot.net framework. It enables clients to improve business efficiency, productivity and accountability, while lowering the costs and risks in delivering different kinds of financial services solutions. 

On completion of the IPO, AXS Group will complete the acquisition of Axcess Consulting Group Pty Ltd the operating entity, which is a global integrated software solution provider to the finance, insurance and funds sectors and has grown organically and operated for over 13 years.

Offer overview

AXS Group Limited is looking to raise $6.5 million with an option to accept another $500,000 in oversubscriptions and will have an indicative market capitalisation of approximately $25.0 million at maximum subscription.

The proceeds of the offer will be used to:

  • expand the Group’s executive, sales and marketing teams;
  • cover costs of acquisition of Axcess Consulting;
  • provide Working capital; and
  • cover the costs of the offer

AXS client base

AXS provides clients software services for varying business sectors including a strong position in the non-bank software lending market. These clients are geographically spread across North America, Europe and Asia-Pacific region. The business is characterised by strong recurring revenue and high levels of client retention, being approximately 90% since inception. The ARMnet platform is currently used to manage over $100 billion of assets and transactions for clients worldwide.

Key Clients:

Revenue Model

AXS Group Limited revenues are generated by subscription and licensing, maintenance, personalisation and servicing fees, typically charged in accordance with agreed rates set out in service agreements with each respective client. Subscription and licencing revenues are recurring annuity revenue streams that contribute approximately 50% to total revenue.

The table below provides an overview of the types of fees charged by AXS.

Product Modules

Technological advances continue to develop in the back office which now offers the financial services industry the ability to do things more efficiently and cost effectively. The Company is to be a key driver in this market and from its ARMnet technology platform, operates two business lines: Platform Product Solutions and Service Solutions. The platform uses cognitive processes, including robotic process, automation and blockchain techniques to give real time output, reducing time and cutting costs.

AXS product offering is divided into 7 product modules on a subscription basis and 3 user services modules on the ARMnet platform. More modules will be introduced upon identification of further market opportunities with each based on pricing.

Industry Overview

The AXS Group currently focuses on providing its software platform solution to the wealth management industry, which involves businesses that provide investment services and financial advice, with the objective of supporting clients to grow their individual wealth. This includes business processing centres, mortgage providers, trustees, asset managers, family offices, private investor groups, public offer funds, and self-managed superannuation funds (SMSFs). As of June 2016, there were approximately 8,200 active businesses in Australia involved in financial asset investing, and approximately 4,000 superannuation funds (excluding SMSFs). There are almost 600,000 SMSFs, 1,500 charitable trusts that manage investments and over 25,000 active financial advisers.

AXS can be viewed as a provider of disruptive technology in the financial services sector, in which large companies, such as Fiserve and FIS Global, have traditionally dominated. Globally, total Information Technology (“IT”) expenditure is projected to total US$3.7 trillion in 2018, an increase of 4.5% from 2017. Corporate business software use continues to exhibit strong growth, with worldwide software spending projected to grow 9.5% in 2018, and it will grow another 8.4% in 2019 to total US$421 billion.1 Organisations are expected to increase spending on software in 2018, with more of the budget shifting to software as a service (“SaaS”).

Growth Strategy

AXS Group’s growth strategies include:

  • Organic expansion. The Group intends to grow the use of the ARMnet platform and its product and service lines through increased marketing and promotion and the education of existing or new customers by its sales managers.
  • Cross selling of products and services. The ability to acquire companies with leading software capabilities provides the group with the opportunity to cross sell software products across their expanded customer base.
  • Ongoing growth in funds management. Revenues can in some cases be linked to the size and volume of its clients’ underlying funds . In the event that AXS extends the nature of funds administration services beyond that currently offered, it will consider acquiring an AFSL to enable a further widening of its product administration offering.
  • Ongoing growth in superannuation in Australia. The Group believes it can leverage its ARMnet software expertise for super administration.
  • Expansion of operational footprint through acquisition. To accelerate the execution of the Group’s strategy and growth, the Group may make strategic acquisitions of specific software providers or other synergistic businesses.
  • Group business across the broader Asia Pacific, Canada and United States region. AXS will continue to broaden its service offering software solutions into third party administration and business processing centres. This shall include expansion, both domestically and offshore into Europe, Asia and North America.

Board and Management

The AXS Group is led by a well-credentialed and balanced Board and management team with experience in the financial services, information technology and software development industries. This includes:

  • Nick Brookes (Non-Executive Chairman), founder of CCSL Ltd and until recently was the Chairman of Linear Asset Management Ltd.
  • David Grey, Managing Director and CEO -  has over 30 years management, corporate and financial services experience and previously worked with Texas Instruments, AWA Limited, National Benefits Consulting, AM Corporation Ltd, Millinium Capital Group, AMP Superannuation Ltd, CUSCAL, Perpetual Trustees Australia Ltd and Australian Wealth Management Limited.
  • Ivan Colak, Executive Director - co-founder and director of Axcess Consulting with more than 30 years of domestic and global experience in technology services.
  • Andrew Duncan, Chief Financial Officer - is a Chartered Accountant with over 20 years’ experience specialising in forensic accounting, transaction services and was accepted by the Institute of Chartered Accountants as a Business Valuation Specialist. 

Risks

You are encouraged to read the Prospectus carefully as it contains detailed information about the Company and the Offer. Like all investments, an investment in the Company carries risk. As set out in Section 8 of the Prospectus, AXS Group Limited is subject to a range of risks, including but not limited to reliance on key personnel, risk of significant control by Existing Shareholders, replicability of business model or failure to retain existing clients and attract new clients.

 

Section 734(6) disclosure: The issuer of the securities is AXS Group Limited ACN 619 705 207. The securities to be issued are ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).​

OnMarket has a limited allocation. The offer may close early and the 'Pay By' dates may change. Bids over $10,000 may be scaled back more heavily. Duplicate bids under the same investment profile, investor name or residential address may be cancelled.

IPO
Materials
$0.20
Size of Offer $6.6 million
Minimum Bid $2,000.00
Opening Date 27/09/2018
Closing Date 15/11/2018

Introduction

Norwest Minerals Limited (ASX:NWM) is primarily a gold and base metals exploration company formed to allow the spin-off of Australian Mines Limited’s portfolio of prospective gold and base-metal properties in WA. Norwest’s strategy is to focus on delineating an economically viable resource capable of transforming the Company from an explorer into a mineral producer.

The Company has received binding firm commitments from sophisticated investors to subscribe for $4,000,000 under the Cornerstone Offer, $3,000,000 of which is from certain Directors or entities controlled by them.

Norwest Minerals intends to aggressively explore its portfolio of five projects. The Gold and Base-Metal Projects are prospective for gold and/or base metals and make up a total package of 19 tenements (all granted) covering over 1,800 square kilometres.

Norwest Minerals will be led by Charles Schaus, who has extensive experience as a manager in the resource industry, including the founding of Aurox Resources Limited, which he successfully merged with Atlas Iron Limited in 2010 in a scheme of arrangement valuing Aurox at over $130 million.

Offer overview

Norwest Minerals Limited is looking to raise $6.6 million, and will have an estimated market capitalisation of $12.6 million on completion of the offer.  As mentioned above, the Company has received binding firm commitments totalling $4,000,000. 

The Company intends to use the funds raised under the Offer as follows:

  • to fund exploration on the Gold and Base-Metal Projects;
  • to pay for the Company’s administration and corporate overheads;
  • for working capital purposes, including possible new acquisitions; and
  • to pay for the variable costs of the Offer.

The Projects

The Gold and Base-Metal Projects and the Company’s proposed exploration program is set out below.

  • The Bali Project, located in the Ashburton region of WA, has returned strong copper assays from recent rock chip surface sampling. A maiden electromagnetic (EM) programme will be undertaken prior to the end of 2018.  The EM work is designed to highlight subsurface sulphide mineralisation which can be used to assist in targeting Bali Project’s copper potential with RC drilling.
  • The Warriedar Project, located in the Yilgarn Craton, includes a granted mining lease containing the historic Reids Ridge gold mine which will be drill tested down dip from the old workings. To the east, the Mount Laws Prospect is a 1.5 kilometre mineralised trend defined by historic workings and past shallow RC and RAB drilling. Norwest has planned RC drilling of new walk-up gold targets along the Mt Laws trend identified from recent surface sampling and reinterpretation and modification of past exploration work.
  • The Arunta West Project, located in the Gibson Desert is prospective for iron oxide copper gold (IOCG). A coincident gravity-magnetic anomaly at the North Dovers prospect is the target of four deep diamond drill holes. Norwest will be the first explorers to drill at North Dovers with the work scheduled for May 2019.
  • The Marymia Project, also located in the Yilgarn Craton, is situated near several world class mining operations, including the Plutonic Gold Mine and the Degrussa Copper Mine. There are a number of promising gold and base metal targets scheduled to be RC drilled across the Marymia Project tenements prior to the end of 2018.
  • The Marriotts Project, located in the Leonora and Leinster nickel belt, contains an JORC Inferred Mineral Resource of 662,000 t at 1.3% Ni. Remodelling of the deposit’s drill data is planned to upgrade the current Inferred resource into the Indicated and Inferred categories. Further work will include a toll treatment assessment of the deposit.

Location map of Norwest's five projects all located in Western Australia

The company’s proposed exploration program mostly focuses on drilling.  The proposed timeline for the period to 30 September 2020 is shown below:

Business Objectives  

Norwest’s business model is to focus on increasing shareholder value, directing funds raised by the Offer as efficiently as possible into in-ground exploration, and project development to:

  • systematically explore the Gold and Base-Metal Projects for commercial quantities of copper, gold and other minerals;
  • if an economic discovery is made, endeavour to develop the Gold and Base-Metal projects and bring them into commercial production;
  • assess and secure additional mineral projects only if they are demonstrably value accretive in order to avoid unnecessary expense and dilution; and
  • maintain a strong focus on the health and safety of employees and contractors, building a strong partnership with government and relationship with communities, and working to best practice environmental standards.

Management and Board

Norwest Minerals Limited is led by an experienced board. These include:

  • Michael Tilley, Chairman.  With over 40 years’ experience in the accounting and finance industries and he has a broad range of senior advisory and project management experience in all facets of corporate finance. Has was previously a director of Yarra Valley Water Limited and was a director North Queensland Metals.
  • Charles Schaus, CEO.  Mr. Schaus is a geologist and has been a director of a number of companies. He has significant corporate and technical experience in the metals and mining industry. He has held key technical positions in WA mining companies, including Newmont Mining Corporation, Newcrest Mining Limited, Eagle Mountain Mining Limited and also consulted in Ghana for 18 months. In 2003, Charles founded Aurox Resources Limited, and was its managing director.
  • Benjamin Bell, Non-executive Director.  Mr. Bell is a geophysicist and geologist with 20 years’ experience in the minerals industry. He joined Australian Mines in November 2011 as CEO and was subsequently appointed managing director in January 2012. He was pivotal in increasing the market capitalisation of Australian Mines Limited from less than $10m when he joined to a recent peak of over $300m. Previously, he was CEO of Ausgold Ltd.

Risks

You are encouraged to read the Prospectus carefully as it contains detailed information about the Company and the Offer. Like all investments, an investment in the Company carries risk. As set out in Section 5 of the prospectus, Norwest Minerals Limited is subject to a range of risks, including but not limited to land access and tenure, native title access, liquidity and failure to satisfy expenditure commitments.

 

Section 734(6) disclosure: The issuer of the securities is Norwest Minerals Limited ACN 622 979 275. The securities to be issued are ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).​

OnMarket has a limited allocation. The offer may close early and the 'Pay By' dates may change. Bids over $10,000 may be scaled back more heavily. Duplicate bids under the same investment profile, investor name or residential address may be cancelled.

Disclaimer: All information on this section is of a general nature. Before making any investment decision, please seek the relevant advice.

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