* A corporate client of Hybridan LLP
** Potential means Intention to Float (ITF) has been announced, or it is a rumour
***Arranged by type of listing and date of announcement
****Alphabetically arranged
Share prices and market capitalisations taken from the current price on the day of publication
Dish of the day
Admissions:
On the Main market Fintech Asia Limited (FINA.L) cancelled its admission to trading and was re-introduced following a reverse takeover after acquiring ICFG Pte. Ltd. has changed its name to ICFG Limited (ICFG.L) today at 8am. The expected market cap on relisting was £130m expected. ICFG Limited has a controlling interest (via wholly owned subsidiary, SIBJ Capital LLC) in a number of subsidiaries operating under four business segments: financial services; investment banking; AI and IT services; and real estate development and management across its business units operating in Singapore, Mongolia, Kyrgyzstan, Kazakhstan and Uzbekistan.
Delistings:
Loungers (LGRS.L) delisted from AIM.
What’s baking in the oven?
Potential** Initial Public Offerings:
6 February: Media reports that The Beauty Tech Group, owner of CurrentBody, a brand of beauty technology, is considering a £350m London stock market listing. The Company describes itself as a global industry leader in home-use beauty technology, and is focused on products which use LED, radio frequency, microcurrent and laser treatments. The Beauty Tech Group saw revenues pass the £100m mark for the first time, up from £80m in 2023. Details, including the size of any primary share sale, have yet to be finalised.
6 February: GlobalData (DATA.L) has announced an intention to move to the Main Market from AIM. Timing is tbc.
6 February: Creightons (CRL.L) has announced an intention to move to AIM from the Main Market. Timing is subject to various approvals, but for 31 March.
Banquet Buffet****
AOTI Inc 115p £122m (AOTI.L)
The medical technology Company is focussed on the durable healing of wounds and the prevention of amputations through its unique intermittent Topical Wound Oxygen (TWO2) and Negative Pressure Wound (NEXA) therapies, and this morning updated on trading for Y/E December 2024. Revenue is expected to be more than $58.1m,which is 32% increase on 2023. Growth outside the Veterans Affairs (VA) sector has helped to diversify the sales mix such that the VA sector, whilst continuing to grow, accounted for less than 60% (2023: 72%) of Group revenues. Investment in new market channels has given earlier access than planned to large and higher margin sectors. This will significantly contribute to margin improvements as the Adjusted EBITDA margin for 2024 is expected to increase to approximately 13.8%, compared with 3.9% for the prior year. The finals are to be reported on 28th April .
CleanTech Lithium 14.75p £12.4m (CTL.L)
The results of a placing were reported yesterday afternoon from this exploration and development Company that is advancing lithium projects in Chile for clean energy transition. It has just raised £2.4m at 16p a share and there was a 1 for 1 Warrant attached at 11p to be exercise after a year from admission and before 4 years. The funds are to progress the capital programmes which are the critical path for the award of the Special Lithium Operating Contract at Laguna Verde. Once the Laguna Verde Pre-Feasibility Study is completed, the Company plans to list on the ASX. This should enhance market visibility and
give access to a broader investor base. The first stage Direct Lithium Extraction pilot plant conversion process will be completed and produce substantial quantities of battery grade lithium carbonate to introduce to potential off-takers and strategic partners.
Gelion 14.5p £21.52m (GELN.L)
The Anglo-Australian battery innovator updates on the progress made in its Gen 3 Sulfur Cathode Technology, which has been in development to unlock the potential of sulfur batteries for a range of global energy storage applications. Following testing by an independent third party, a renowned European research institution, the Group has now demonstrated that its proprietary Gen 3 Sulfur Cathode material is viable to be paired with solid-state electrolyte material toward full solid-state applications. This development means Gelion has a technology with the potential to complement and establish a significant market presence alongside traditional Li-ion cathode chemistries. The semi-solid-state battery technologies potentially offer a solution across the liquid, semi-solid-state and solid-state technologies, targeting an even wider range of applications.
Goldstone Resources 1.175p £10.58m (GRL.L)
The mining and development Company with projects in Ghana that range from grassroots exploration to production provided an update on its Homase Mine and heap leach operation in south-western Ghana. The highlights include pouring a record 16.253 kilograms of gold doré, which is equivalent to around 522 ounces of gold. Its monthly gold production has doubled since November 2024 and has successfully ramped up to an average of 48,000 tonnes of agglomerated stacked ore per month. The expansion of both mining and processing operations is expected to continue throughout 2025, and preparatory work has already commenced for the expansion of Pit 1. It is working towards its target of 1,000 ounces of doré per month.
IXICO 11.75p £10.9m (IXI.L)
The neuroscience imaging Company using its AI-driven platform to help advance drug development in neurological disorders reported further evidence verifying the superiority of its analysis platform. It is being used in the development and validation of imaging biomarkers for Huntington's Disease (HD) and has passed a significant milestone. Applying a proprietary deep learning regional segmentation algorithm IXIQ.Ai, it was able to establish high quality brain measurements in HD research by successfully completing the analysis of over 6,000 MRI datasets within the HD-IH framework. The validation advances HD understanding and provides enhanced tools for imaging biomarkers to the biopharma industry. With its partners, it intends to put those measures into clinical trial use and build further evidence.
LPA Group 53p £7.63m (LPA.L)
The innovation-led engineering specialist in electronic and electro-mechanical components and systems
yesterday announced a new contract for the supply of rail inter-car jumpers and connectors for a new build project with a major UK-based train builder. The contract value is £1.3m and product deliveries are anticipated to start in summer 2025 and scheduled into 2026. It is a boost for LPA’s UK manufacturing plant and further establishes its role in the UK rail supply chain.
MTI Wireless Edge Ltd 48.5p £41.8m (MWE.L)
The technology Company focused on comprehensive communication and radio frequency solutions across multiple sectors reported a significant new order. Its Antenna division has received a repeat order from a system house in Israel for the manufacture of military antennas worth a total of approximately US$4m, which are expected to be delivered up until 30 June 2026. This order is one of the largest it has ever received. The antennas are designed to deliver unmatched accuracy and robust communication, leveraging sophisticated and complex production technology. Financial results for the Y/E December 202 are on 17 March.
Oxford Biodynamics 0.5p £9.79m (OBD.L)
A precision clinical diagnostics Company bringing specific and sensitive tests to the practice of medicine based on its EpiSwitch 3D genomics platform has partnered with Regina Maria Private Health Network, the largest medical services provider in Romania. A distribution agreement has been signed to give Romanian patients access to OBD's range of blood tests (EpiSwitch Prostate Screening) and EpiSwitch CiRT (Checkpoint inhibitor Response Test). Regina Maria servers 5 million patients with an array of medical services and over 720,000 patients are covered by health insurance subscriptions. Patients' blood samples will be shipped for analysis to OBD's UKAS-accredited ISO-15189 clinical testing laboratory in Oxford. This is the first agreement in the EU for the EpiSwitch clinical tests which are highly accurate for prostate cancer risk, and EpiSwitch CiRT for those considering or on cancer immunotherapy.
Surgical Innovations Group 0.55p £5.13m (SUN.L)
The designer, manufacturer, and distributor of innovative medical technology for minimally invasive surgery updates on trading for the Y/E December 2024. The Group expects full-year revenues to be broadly in line, after a period of turnaround it H2. Its adjusted EBITDA is slightly ahead of market expectations, benefiting from stringent cost controls and restructuring efforts. Net debt as at the Y/E was lower at £0.3m, compared to £0.5m while the gross cash headroom remains the same £1.2m. A new CFO is appointed, and the CEO is pleased with the turnaround, and considers there is a strong platform for growth. The finals are to be reported in March 2025.
Time Finance 60p £54.8m (TIME.L)
The independent specialist finance provider yesterday reported its Hard Asset lending portfolio has reached an all-time record high by exceeding £100m. It has increased in size month-on-month for three and a half years and is 21% ahead of Y/E May 2024. Reflecting the focus on secured lending, the combined Hard Asset and Invoice Finance lending books now represents 80% of the Group's total overall lending portfolio as at the end January of 2025. The stated strategy is to grow the overall lending book to over £300m in 2028. Its Q3 Trading Update will be reported on 25th March.
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