Greater access to IPOs through OnMarket BookBuilds

State One has partnered with OnMarket BookBuilds to provide our clients with even more investment opportunities. In addition to the exclusive capital raisings that State One 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 State One. 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 State One 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 State One 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 State One account.

Current OnMarket Offers

IPO
Software & Services
$0.36
Size of Offer $2-6 million
Minimum Bid $1,000.00
Opening Date 22/08/2017
Closing Date 18/09/2017

GeoOp Limited (ASX: GEO) provides cloud-based business productivity tools and applications for small to large businesses with mobile and distributed workforces. With over 27,000 licenced users, Geo targets its productivity tools at customers across different functions and business areas that range from sole traders to multi-seat organisations, sometimes with hundreds of licences.

Incorporated in 2009, Geo has expanded from its original operations base in Auckland, New Zealand, into a software provider with a global user base and staff located in Australia (Sydney and Melbourne), New Zealand (Auckland), the USA, Canada and the United Kingdom.

Offer Details

GeoOp Limited is looking to raise up to $6 million via its IPO, resulting in an expected market capitalisation of $21.2 million at a maximum subscription. The IPO proceeds will be predominately used to fund sales and marketing expansion, ongoing operations, continued enhancement of technology, product development and payment of the offer costs.

In addition, for every 3 Shares subscribed for and issued there will be 1 free attaching Option exercisable at $0.60 on or before the date which is 3 years from the date of issue. Geo will also apply for these attaching Options to be quoted on ASX.

Geo’s Products

Geo suite of productivity tools comprises of two publicly marketed products and one product which is in pilot with a foundation customer, each based on a Software-as-a-Service (SaaS) model, offerings the following features:

  • GeoService: an online workforce management and costing solution that targets the trades and services industries and helps operations managers create, schedule and assign jobs to field workers in real time;
  • GeoSales: a mobile sales workforce management solution, that increases the productivity and effectiveness of field sales workers; and
  • GeoCare: a client-centric, collaborative workforce management tool for the healthcare industry (currently in production with a foundation customer).

Each of Geo’s software tools promote an intuitive and easy-to-use customer experience through the use of native applications for iOS and Android-powered smartphones and tablets.

User Growth

Geo has experienced significant user growth, with the number of paid licences exceeding 27,000 in June 2017 for the GeoService and GeoSales products.  As of December 2016, approximately 40% of Geo’s paying users were located in countries outside of Australia.

Number of paid licences (June 2013 – June 2017)

With a range of high quality customers, GeoSales has annual customer retention rates of 92-96% for enterprise customers. GeoSales customer churn rate currently averages less than 1% per month.  

Revenue Model

With forecast FY 2017 revenues of $4.2m, GEO generates revenue primarily through monthly and annual subscription payments paid by users based on the number of their subscribed licences.  The reported product-based revenue is currently split between the GeoService and GeoSales, contributing approximately 55% and 45% respectively to product subscription revenue.

Growth Strategy

Geo’s strategy is to extend its customer reach by targeting business that need to manage their mobile workforces. The focus is on developing ‘best-in-class’ user experience and user interface to services customers in business areas such as construction, security logistics, trades and face to face sales. They are also focused on the development and expansion of marketing and sales capability in North America and Europe and will focus on expanding the customer base of existing products.

Delisting from NZAX

Geo is currently listed on the Alternative Market of the New Zealand Stock Exchange (NZAX) and its shares have been suspended from trading on the NZAX since 29 June 2017 (at the Company’s request) to enable the Company to undertake the Offer. Geo intends to delist from the NZAX immediately prior to, and conditional on, the Company’s admission to the ASX Official List.

 

As set out in Section 5 of the Prospectus, GeoOp Limited is subject to a range of risks, including but not limited to going concern, reliance on customer renewals and attracting new customer, operating in a competitive market and resourcing.

 

Section 734(6) disclosure: The issuer of the securities is GeoOp Limited ARBN 620 404 211. 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).​

IPO
Materials
$0.20
Size of Offer $4.2-6 million
Minimum Bid $2,000.00
Opening Date 20/07/2017
Closing Date 31/08/2017

Northern Cobalt Ltd (ASX: N27) is an Australian cobalt exploration and development company which will acquire the prospective Wollogorang Cobalt Project (Project) which includes the Stanton Cobalt Deposit, located in the Northern Territory.

Northern Cobalt plans to drive shareholder value through the assessment and development of the cobalt potential of the Project. It is planned that, upon listing, 20,000m of drilling will be undertaken prior to the end of 2017. The aim of this proposed 230 hole drill program is to expand the existing cobalt Mineral Resources at the Stanton Cobalt Deposit and test a number of mineralised drill targets.

Offer overview

Northern Cobalt is looking to raise between $4.2 million and $6 million via its IPO, resulting in an expected market capitalisation of $8.9 million at a maximum subscription. In addition, for every 2 Shares subscribed for and issued there will be 1 free Investor Option exercisable at $0.20 on or before the date which is 24 months from the date of issue. Northern Cobalt will also apply for these Investor Options to be quoted on ASX.

What is the Project?

The Wollogorang Cobalt Project covers an area of 1131 km2 in the north-east of the Northern Territory. It is located near two major ports, including Bing Bong, the major port servicing the McArthur River Mine, which lies approximately 200 km to the north-west. The project has three exploration titles associated with it, all of which are six-year leases. Within these lease areas are the existing Stanton/Running Creek Prospects and the Selby and Karns Prospects.

The Stanton Cobalt Deposit contains an Inferred Mineral Resource of 500,000t @ 0.17% Co, 0.09% Ni and 0.11% Cu (JORC 2012).  The initial phase of exploration will aim to increase the global Mineral Resource inventory to the stated Exploration Target of 2Mt grading 300ppm cobalt, 80ppm nickel and 5,000ppm copper to 10Mt grading 1,200ppm cobalt, 600ppm nickel and 3,000 ppm copper

What is Cobalt used for?

The uses of cobalt can be broken broadly into two groups: metallurgical and chemical.

Metallurgically, cobalt is a critical element in alloys that need to endure severe temperature and mechanical stress, due to its properties of high temperature resistance, hardness and wear characteristics. These qualities make it ideal for superalloys, hard metals and diamond tools, special steels and alloys, as well as high temperature, high strength magnetic materials.

The principal chemical use is in the cathodes of certain rechargeable lithium-ion batteries, of the five main lithium battery types, three contain battery cathodes containing cobalt.  It is also used as catalysts in the petrochemical and plastic industries, colouring in pigments and ceramics; and as paint driers and use in the tyre industry.

Forecast cobalt demand growth

The demand for cobalt over the next 10 years will be driven by Li-ion batteries especially in Electric Vehicles (EVs). CRU anticipates a 68% increase in cobalt consumption between 2015 and 2025. Li-ion batteries for EVs will drive an increase in cobalt demand in the order of 250% over this timeframe. CRU estimates that 30kt of cobalt will be consumed by 2025 versus 8kt in 2016.

Annual EV Production and Cobalt Demand for EVs

(for more information on the global cobalt market, see the Independent Cobalt Industry Report)

Company Objectives

Using the proceeds raised via the IPO, Northern Cobalt intends to:

  • increase the global mineral resource inventory at the Wollogorang Cobalt Project;
  • work toward the possible upgrade of current resources in the Project from the Inferred to Indicated category according to the JORC Code and advance the Project by undertaking economic assessments; and
  • examine the possible acquisition of other projects.

The Company’s aim is to increase the available resources and to advance the project toward commercial production of cobalt.

 

As set out in Section 6 of the Prospectus, Northern Cobalt Limited is subject to a range of risks, including but not limited to exploration and development, conditions to Tenements, future funding and grants of future authorisation to explore and mine.

 

Section 734(6) disclosure: The issuer of the securities is Northern Cobalt Limited ACN 617 789 732. 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).​

IPO
Software & Services
$0.20
Size of Offer $10-12 million
Minimum Bid $2,000.00
Opening Date 18/08/2017
Closing Date 8/09/2017

The GO2 People Ltd (ASX: GO2) provides integrated and complementary labour hire and building services to Tier 1 and Tier 2 clients throughout Australia. Since starting the labour hire business in 2011, the GO2 brand has grown strongly in WA and QLD specialising in the provision of temporary staffing solutions to a range of sectors including major infrastructure, building / construction, and telecommunications.

In 2014 the founders created a building division to utilise key management’s building industry knowledge, skills and networks, and the excess labour within the Labour Hire Division, to carry out small pilot building projects. The initial focus is on the “rapid build” market, which is an alternative building construction method which uses light weight prefabricated components in the construction process to significantly reduce build times.

Offer Summary

The GO2 People are looking to raise up to $12 million via its IPO, resulting in an expected market capitalisation of $25.5 million at a maximum subscription.  The funds raised will be used to continue to grow the Labour Hire Division, expand the Building Division, create a stronger financial position to allow future growth, reduce the net debt of the company and cover the costs of the offer.

Business Overview

Founded in 2011, the business of The GO2 People began as a recruitment and labour hire business based in Western Australia.  In 2014, after identifying the need to diversify into complementary businesses and capitalise on the skill sets within the business, the Building Division was established, with the aim to create integration and synergies between the Labour Hire Division and a building division.

Go2 People currently operates in 5 locations throughout Queensland and Western Australia, with the Head Office located in Perth.

Labour Hire Division  

The Labour Hire Division specialises in the provision of temporary staffing solutions to its client base consisting of reputable tier 1 and 2 contractors in the major infrastructure, building/construction, telecommunications, transport and electrical sectors. They have supplied labour to clients on a number of recent major infrastructure projects in WA, including Elizabeth Quay, Perth Stadium, Perth’s Gateway project, Perth Children’s Hospital, and the Kwinana and Mitchell Freeway extensions. It has also supplied labour to several major projects in QLD, including the Gold Coast Light Rail, Toowoomba Second Range Crossing and Sunshine Coast University Hospital. 

The Labour Hire Division accesses a database of 100,000 plus job candidates through its recruiters, and has created talent pools across most occupations which it utilises to meet clients’ future workforce requirements.

2015/16 Australian Labour Hire Industry Statistics

The Building Division

The building division started as a small division with GO2 Recruitment business but has since utilised key management’s building industry knowledge, skills and networks to carry out pilot building projects and to provide building services to the Labour Hire Division’s clients.

The division has initially focussed on the ‘rapid build’ market, which uses light weight pre-fabricated components in the construction process to significantly reduce build times without compromising quality. They have also entered the ‘smart homes’ market which comprise home automation technologies to manage lighting, temperature, security and other ‘internet of things’ devices within the home.

2015/16 Australian Housing Construction Industry Statistics

Revenue Generation

In FY2016 the company generated revenues of $38.3 million, with the Labour Hire Division contributing $36.4 million. Revenue from the Building Division is expected to grow as construction on building projects commence.  

Growth Strategy

The GO2 people will expand its Labour Hire Division into NSW, VIC and NZ and will continue to explore opportunities available to diversify its service offering, while still leveraging off the Company’s skill sets and ever increasing business networks.  With a number of major infrastructure project opportunities coming on stream Australia wide, the Company is seeking to gear itself financially and operationally to be able to offer labour hire services for these proposed projects.

As part of the IPO, the company will acquire Terra Firma Constructions Pty Ltd, which will expand the Building Division. The Building division is planning to focus on three areas, Rapid Build Smart Home buildings, small commercial buildings, and onsite mine infrastructure buildings.

As set out in Section 6 of the Prospectus, The GO2 People Ltd are subject to a range of risks, including but not limited to workers health and safety, building/construction industry volatility, industrial relations risk and technology disruption.

 

Section 734(6) disclosure: The issuer of the securities is The GO2 People Ltd ACN 616 199 896. 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).

IPO
Financials
$1.10
Size of Offer Up to $165 million
Minimum Bid $2,200.00
Opening Date 1/08/2017
Closing Date 1/09/2017

One Managed Investment Funds Limited (ACN 117 400 987) (AFSL 297042) (OMIFL) is the responsible entity for the Fat Prophets Global Property Fund (ARSN 619 970 786).

Fat Prophets Global Property Fund Ltd (ASX: FPP) (Fund) will provide investors with the opportunity to invest in an actively managed portfolio of global real estate securities through an Australian listed registered managed investment scheme. The Portfolio will deliver access to investments underpinned by tangible assets which derive predictable yield and the opportunity for capital growth.

Offer Overview

Fat Prophets Global Property Fund is seeking to raise between $27.5 million and $165 million (with ability to accept oversubscriptions of $55 million).  Attached to each unit in the Fund subscribed for in the IPO is  1 Loyalty Option. Each Loyalty Option is exercisable at $1.10 and will vest on the date that is 12 months from the date of quotation of the Units on ASX.  The Loyalty Options will not be listed on ASX and are not transferrable.

The Fund is structured as a unit trust. This means that as a unit holder you have a fixed beneficial interest in the assets of the Fund calculated as the proportion your unit holding bears to all of the units in the Fund which have been issued.

OMIFL has issued a product disclosure statement dated 11 July 2017 (PDS) offering units and loyalty options in the Fund (Offer). Before deciding to invest in the Fund you must read the PDS which is available under Company Releases on this page.

About the Fund

The Fund will invest in a diversified but high conviction portfolio of global real estate exposures managed by Fat Prophets Funds Management Pty Ltd (Investment Manager). While the Fund will be measured against a bespoke benchmark, the Fund investment positions will only number 70-90 of the best opportunities from the overall 350 stocks comprising the benchmark universe.

The primary portfolio manager will be Simon Wheatley who has over two decades of deep experience in the listed real estate sector and Angus Geddes who is also the Co-founder of Fat Prophets Pty Ltd and CIO of Fat Prophets Global Contrarian Fund Ltd.  The Fund will only invest in equities in developed markets and the Fund will not use leverage, shorting or derivatives and as such will be simple in structure targeting capital growth and distributions.

Why is it Unique?

Real Estate Investments Trusts (REITs) have a deep and liquid market across around the world. The only access Australian investors have to global real estate equities is via direct investing to offshore markets or unlisted funds, with no Australian listed funds offering global or even domestic exposure. This Fund will provide global real estate equity exposure with an overweight allocation to the Australian market vs the traditional global indices. This will provide the predominantly Australian investors in the Fund an underlying exposure to Australian real estate in the order of 30% rather that the 6-7% which is the Australian exposure reflected in the global real estate index.

Investment Strategy

The objective of the Fund is to provide investors a total return consisting of capital appreciation and dividend income. The Portfolio will be diversified across countries and real estate asset sub-sectors. The investment strategy will broadly weight 25% - 35% of its Portfolio investments to Australia with the balance invested internationally.

The Fund will hold an actively managed Portfolio of typically:

  • 70 – 90 securities;
  • 85% – 100% of the market value of the Portfolio invested in global listed real estate related securities; and
  • Up to 15% of the market value of the Portfolio may also be held in cash.

The suggested investment time frame will be 5 years.

 

The Investment Manager

The Investment Manager is Fat Prophets Funds Management Pty Limited and is a wholly owned subsidiary of Fat Prophets Pty Ltd (Fat Prophets).  Fat Prophets was jointly founded in 2000 by its current CEO and major shareholder, Angus Geddes. Fat Prophets has a long history in the area of investment advice and funds management. Over this period, the firm has grown substantially from just one small office and today has an international footprint with offices in Sydney, London and Auckland, and research coverage across major equity markets.

 

As set out in Section 5 of the PDS, Fat Prophets Global Property Fund is subject to a range of risks, including but not limited to market stability, investment strategy, real estate investment risk and concentration risk.

The issuer of the securities is One Managed Investment Funds Limited (ACN 117 400 987) (AFSL 297042) in its capacity as Responsible Entity for the Fat Prophets Global Property Fund (ARSN 619 970 786). The securities to be issued are Units and Options. The PDS 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).​

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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