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.
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.
OnMarket has a limited allocation and the offer may close early. Applications in excess of $10,000 may be scaled back more heavily. We cannot guarantee that all funded bids will receive and allocation.
Universal Biosecurity Limited (ASX: UBL) is a Perth based company with the intellectual property rights to an apparatus called Fume8™. The Company was established to investigate new fumigation technologies and identified a need for an alternative fumigation technology because of increasing concerns about environmental safety and efficacy of traditional chemicals used in the Australian fumigation industry.
The Fume8 apparatus is versatile as it can be used with a range of liquid fumigants. The Fume8 apparatus can be used with ethyl formate liquid fumigant resulting in an environmentally friendly fumigation solution. The environmentally friendly aspects of the use of ethyl formate with the Fume8 apparatus are the ethyl formate product itself is of low toxicity being a food grade natural product, the vaporisation process used with the Fume8 apparatus is with nitrogen gas rather than carbon dioxide and any residue from the process is limited.
The Fume8 apparatus can also be used with traditional liquid fumigants such as methyl bromide (one of the most commonly used global agricultural liquid fumigants) and propylene oxide (widely used fumigant for dried fruit and nut pasteurisation in many countries). The use of these chemicals with the Fume8 apparatus results in a traditional fumigation solution.
Universal Biosecurity Limited is looking to raise $5 million via its IPO, and will have an estimated market capitalisation of $11.7 million.
The proceeds of the IPO will be used to:
The Company’s business model is focused on commercially developing the Fume8 apparatus as a versatile apparatus to be used both with traditional liquid fumigants to deliver a traditional fumigation solution as well as with ethyl formate to deliver an environmentally friendly fumigation solution. The development of the Fume8 apparatus with ethyl formate use is a possibly “disruptive” technology to relevant fumigation markets given its environmentally friendly outcome.
Fumigation is often mandatory for imports and exports. Many primary producers rely on fumigation chemicals to meet local and international market requirements for pest-free products.
Methyl bromide: a liquid, broad-spectrum pesticide having non-specific toxicity to a wide range of invertebrates. Methyl bromide represented 15% of the global agricultural fumigants market in 2016. Methyl bromide can have harmful effects on humans and other animals if they are exposed to high concentrations. Some countries have indicated that they plan to stop, or have already stopped, using methyl bromide for some or all of their quarantine and pre-shipment uses.
Phosphine: the most widely used fumigant in the Australian grain industry. Phosphine represented the largest share (26%) of the global agricultural fumigants market in 2016. It is an effective fumigant, if used properly. However, major drawbacks include that it is a comparatively slow-acting poison, in Australia, strong resistance to phosphine has been detected in stored grain pests, and it is highly toxic to humans if exposure is to occur.
Set out below is a pie chart illustrating portions of the 2016 global agricultural fumigations market that are represented by liquid, gas and solid phase fumigants. Liquid phase fumigants (at 43%) such as methyl bromide make up the largest portion of the global agricultural fumigations market.
Although the Fume8 apparatus can deliver only liquid (and not gas or solid state) fumigants, it competes with the delivery of other phase fumigants such as gas and solid state.
The Fume8 apparatus is portable. Mixing and vaporisation of the fumigation chemicals can be carried out on site. The small size of the apparatus makes it suitable for use in small areas (such as a small grain silo) in addition to larger areas such as warehouses.
Flammability has been an issue curtailing the use of ethyl formate as a fumigant. The Fume8 apparatus overcomes flammability issues for ethyl formate and does so by the vaporisation process being in conjunction with nitrogen gas rather than the use of greenhouse gases such as carbon dioxide.
Features of Fume8 apparatus are:
The Company will seek to develop the apparatus with a primary focus in the Australian market and a secondary focus in the South Korean market.
The Company is looking to develop various revenue streams in Australia with the Fume8 apparatus with a particular focus on a royalty licensing model by which the Company licenses the Fume8 apparatus to fumigation operators. To date the Company has engaged fumigation operators under licensing agreements with Newren Pty Ltd engaged on an exclusive basis for the territories of Western Australia, South Australia, Tasmania and the Northern Territory and BioFume Pty Ltd engaged on a non-exclusive basis for the territory of New South Wales. The licensees will endeavour to provide commercial services using the Fume8 apparatus and the Company will earn revenue upon such services by the licensee paying a royalty upon gross revenue.
The Company ultimately intends to expand its Australian market focus for the delivery of ethyl formate with the Fume8 apparatus to broader commodities than packaged dried fruits. Grain and agricultural produce commodities are intended to be targeted expansion commodities.
In South Korea, the Company will target the Fume8 apparatus being used with ethyl formate liquid fumigant on oranges and bananas. The use of ethyl formate liquid fumigant in South Korea upon the target commodities has government approval.
Universal Biosecurity Ltd is led by an experienced board with extensive skills and experience in both the development of technologies and business operations. Key personnel include:
As set out in Section 6 of the Prospectus, Universal Biosecurity Limited is subject to a range of risks, including but not limited to technology development, commercialisation risks, intellectual property and competing technologies and licencing or supply contracts and customer engagement.
Section 734(6) disclosure: The issuer of the securities is Universal Biosecurity Limited ACN 605963611. 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).
L1 Long Short Fund Limited (ASX: LSF) will be a listed investment company and has been established to invest in a portfolio of predominantly Australian and New Zealand Securities, with up to 30% of the gross exposure allowed in global securities. The Company’s objective is to deliver strong, positive, risk-adjusted returns to investors over the long term.
L1 Long Short Fund Limited is seeking to raise between $100 million and $500 million with the option to receive an additional $100 million in over subscriptions via its IPO.
The Company’s portfolio will be managed by L1 Capital Pty Limited (Manager), which was founded in 2007 by Mr Raphael Lamm and Mr Mark Landau and has approximately $3 billion of funds under management (as at 31 December 2017).
L1 Capital is a global investment and currently manages capital for a range of investors including institutional, wholesale and retail investors. The Manager is 100% owned by entities associated with the key personnel. In line with what the Company considers to be best practice, L1 Capital has committed to forego all management fees until such time as the Company has recouped issue costs, and will also cover the majority of operating costs of the Company where appropriate. The owners of the Manager will be investing a sizeable amount in to the Company and have also agreed to reinvest the after tax value of the performance fee paid by the listed investment company with a long term escrow arrangement.
The Investment Strategy will use a fundamental, bottom-up research process to seek to identify mispriced securities with the potential to provide attractive risk-adjusted returns. The Company’s Investment Strategy will be implemented by the Manager which will aim to identify and invest in Securities issued by high quality companies with attractive valuations. The Company’s assessment of high quality Securities is based on identifying companies with the following characteristics:
The Company may take Short Positions in Securities issued by companies that the Company considers to be overvalued, of low quality and/or over-geared. In addition, the Company may use Derivatives to hedge the portfolio’s market exposure or to enhance returns (while attempting to limit potential capital losses). The Company may hold Long or Short Positions or use Derivatives to profit from this mispricing.
The Manager’s existing unlisted L1 Capital Long Short Fund has a strong track record of historical performance, having delivered an average compound return of 36.9% p.a. (after fees) since it was launched in September 2014 up until December 2017. Over the same period, the S&P / ASX200 Accumulation Index (ASX200 AI) has achieved an average compound annual return of 6.9% p.a. Importantly, the existing Fund’s historical returns have been achieved with significantly less volatility and market risk than the ASX200 AI. The existing Fund has also demonstrated historically strong downside protection during periods of market stress, outperforming the ASX200 AI in all months (up until 31 December 2017) where the ASX200 AI fell (17 separate occasions).
L1 Long Short Fund Limited is led by a board who have a broad range of experience in investment management combined with financial and commercial expertise. Key personnel include:
As set out in Section 5 of the prospectus, L1 Long Short Fund Limited is subject to a range of risks, including but not limited to investment strategy, market stability, short selling risk, counterparty and collateral risk.
Section 734(6) disclosure: The issuer of the securities is L1 Long Short Fund Limited ACN 623 418 539. 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 is accepting applications for the PayGroup Ltd IPO during the Exposure Period. Applications will be not be processed until the completion of the Exposure Period and no preference will be conferred on applications received during the exposure period. If a replacement or supplementary prospectus is issued, this will be provided to you along with the opportunity to withdraw your application.
PayGroup Limited (ASX: PYG) (‘the Company’ or ‘the Group’) is a Software as a Service (SaaS) company that provides Payroll and HR outsourcing (‘Business Process Outsourcing’ or ‘BPO’ solutions) and Cloud-based Human Capital Management (HCM Cloud) software to multinational companies in Asia-Pacific markets. Their solutions help medium to large businesses with employees across multiple countries reduce their operational and compliance risk.
PayGroup’s solutions are delivered to approximately 410 client entities with 31,000 customers across 18 countries. The Group is forecast to generate pro forma revenues of $7.6m and pro forma NPAT of $2.6m for FY18. It has a diverse and loyal client base, with the largest Cloud or BPO client entity representing less than 5% of the Group’s service revenue for FY17 and 90% client retention rate.
The Company is addressing the Asia Pacific BPO Services market valued at US$20.177 billion, with the Emerging Asia Pacific segment growing at 10.3% (Source: Gartner).
PayGroup generates recurring revenue through its two solution suites. The BPO solution for clients covers the outsourcing of payroll, other employee benefits, banking, treasury and statutory lodgement services which is complemented by HROnline a proprietary Cloud based HCM software.
BPO Payroll Services is PayGroup’s core business service and provides outsourced payroll process for its clients’ employees. As part of the service, the Group undertakes a business review to streamline the clients’ payroll processing, workflow and treasury functions. The Group then transacts on behalf of the client in performing its payroll process, disburses employee payroll and lodges all statutory submissions (including taxation, pension & provident funds and other social benefits). These transactions are delivered through the Cloud.
The HCM Cloud product suite supports clients in managing aspects of their employee lifecycle, plus regional and mobile-enabled workflows for critical processes, such as employee and manager self-service, leave management and expense management. The Group will be leveraging the flexibility of its Cloud deployment capabilities to further implement its SaaS HCM suite in additional countries within and outside of the Asia Pacific region.
The sales and marketing activities are split into three business units: Cloud software, BPO and Global Marketing and Sales Enablement.
BPO sales are handled by a separate focused sales team in Singapore and Malaysia due to the depth and complexity of BPO Payroll Services and solutions.
Cloud software is sold through a direct sales team, and it is envisaged that strategic relationships will be established for cloud sales via reputable technology integrators, allowing the Company to generate additional revenue at a lower cost of sales.
Global Marketing and Sales Enablement oversees lead generation for both BPO and Cloud sales via traditional and digital marketing and strategic client management programs. The Group envisages adding alliances and/or forming strategic relationships with European and North American BPO and suitable technology providers wanting access to Asia Pacific markets.
PayGroup is seeking to raise up to $7.5 million via its IPO and will have a market capitalisation of $24.8 million at maximum subscription. The proceeds of the Offer will be used to:
The Group’s objective is to achieve continued growth by expanding its services to existing clients and through new client acquisitions and increasing its global reach by targeting new and existing clients which are headquartered outside the Asia Pacific region which have a need for BPO and HCM services within the Asia Pacific markets. Specific opportunities include:
PayGroup is led by a board with over 60 years combined experience across the global HCM industry and management team with global expertise within BPO Payroll Services, HR Outsourcing and HCM software. Key personnel include:
Ian Basser – Non-Executive Chairman with over 28 years’ experience including Chief Executive Officer and Managing Director of Chandler Macleod Group Limited
As set out in Section 7 of the Prospectus, PayGroup Limited is subject to a range of risks, including but not limited to failure to retain existing clients and attract new clients, business operations, disruption and reliance on key software and competitive landscape.
OnMarket is accepting applications for the PayGroup Limited IPO during the Exposure Period. Applications will be not be processed until the completion of the Exposure Period and no preference will be conferred on applications received during the exposure period. If a replacement or supplementary prospectus is issued, this will be provided to you along with the opportunity to withdraw your application
Section 734(6) disclosure: The issuer of the securities is PayGroup Limited ACN 620435038. 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).