Halo Technologies (HAL) shares have plunged 27.5 per cent since its ASX debut yesterday.
The listing came after the company raised more than $36 million through an IPO priced at $1.20 per share.
The Australian business offers global share trading research and services to thousands of investors — the bulk of them aged over 50 and with portfolios of $500,000 or more. It plans to extend its services internationally.
In his interview with Deal Room, co-founder and chief executive George Paxton said he was not concerned about early market fluctuations.
“I feel great about it,” Mr Paxton said.
“It’s the end of a journey we’ve been through: Growing the business since inception, having those user numbers; we acquired a business called Macrovue from AMP in 2019, and so we’ve been through a load of selling and tech development and the IPO sort of feels like the end of something, but also the beginning of something — a much more exciting chapter in the company’s history.”
The company’s market cap is almost $142.5 million. Shares were trading at 87 cents mid-session.
After a high-profile launch in Perth earlier this year, fertiliser player RLF AgTech (RLF) listed on the ASX late last week, after an $8.5 million IPO issuing 20-cent shares.
The company claims trials prove its products deliver an increase of 10 to 30 per cent in crop yields with return on investment to farmers of more than 200 per cent.
Managing Director Ken Hancock said the company would now pursue its growth strategies by expanding sales and marketing teams.
“We are working diligently to support farmers in this challenging time of rising production costs by providing alternatives to soil-applied fertilisers and increasing crop yields to maximise profits for farmers,” Mr Hancock said.
“The carbon credits environment continues to be a dynamic place to operate and our RLF Carbon business is well situated to navigate the changing regulations and begin generating carbon credits.”
RLF AgTech’s market cap is sitting at about $37 million and shares were down 5.5 per cent today, sitting at 17 cents as of 1:40 pm AEST.
Other new listings this week include lithium explorer in the Northern Territory, Lithium Plus Minerals (LPM), and energy play Paringa Resources (PNL).
Graphite player Renascor Resources (RNU) is launching a share purchase plan to raise $10 million at 27 cents a share.
The offer comes in the wake of the company announcing yesterday it had raised $65 million from institutional investors to develop its Siviour Battery Anode Material project in South Australia.
Renascor has also received conditional approval for a $185 million loan from the Federal Government’s $2 billion Critical Minerals Facility.
Managing Director David Christensen said Renascor intended to supply 100 per cent Australian-made purified spherical graphite for lithium-ion battery anode makers internationally.
“The funds raised will allow Renascor to accelerate the development of an expanded Stage 1 operation that will aim to capture the substantial value inherent in the growing demand for the Siviour PSG (purified spherical graphite) product,” he said.
Renascor will proceed with engineering and design work, long lead-time procurement, resource expansion and early project works.
The share purchase plan opens on May 4.
Renascor has a market cap above $590 million and shares were trading down just over three per cent this afternoon at 30 cents.
Also raising for a graphite project is Triton Minerals (TON) which is looking for about $4.1 million via a placement for its work in Mozambique.
The raise is priced at 2.9 cents a share — representing an almost 14 per cent discount to the previous trading price.
The first $464,000 has been committed by investors.
Triton was trading down more than five per cent on the news at 3.2 cents as of 2:28 pm AEST.
The following companies are also in trading halts ahead of capital raising announcements: Black Canyon (BCA), Green Technology Metals (GTI), Linius Technologies (LNU), Oncosil Medical (OSL), Respiri (RSH), and Talon Energy (TPD).