Gore Street to raise ￡30.6 MM IPO today, Nasdaq Nordics 30th IPO for 2018, Gunsynd tells FastBase AIM IPO not so fast, Adyen to be worth ￡8bn post-IPO

London’s first listed energy storage fund, Gore Street, is having its IPO today on the Main Market of the London Stock Exchange, according to the London Stock Exchange’s website. The Company is raising ￡30.6 million at ￡1 each per share. It will use the funds to invest in a diversified portfolio of utility scale energy storage projects, more specifically, battery projects, as the UK is set to have 31 per cent of its energy come from renewables in 2020, and this energy needs to be efficiently stored. Stockdale Securities are the advisers on the deal.

Nasdaq First North in Stockholm is having an IPO today for JonDeTech Sensors AB, making it the 30th company this year to list for the Nasdaq Nordic markets. The Swedish-based Company configures IR-detectors and sensors that can be applied to contactless temperature measurement, presence detection and body temperature detection, within the medical and internet-of-things industries. Redeye AB has been appointed as the Certified Adviser for the deal. 

London AIM listed investment company, Gunsynd, has announced that software-as-a-service company, FastBase, has had its AIM IPO delayed due to factors including a potential corporate transaction and the development of new software, reports the Daily Telegraph. Gunsynd is assisting FastBase with the IPO, which could possibly take place on London Stock Exchange’s Main Market.

Dutch payment company Adyen is set to IPO this year in Amsterdam which could value the Company at up to ￡8 billion, reports the Financial Times. Adyen acts as an intermediary between payment groups such as Visa and Alipay, and serves payments for companies such as Airbnb, Uber, Spotify and Netflix. Adyen won a contract a few months ago with eBay after eBay’s 15 year partnership with PayPal ended. Adyen was founded in 2006 and is based in Amsterdam, and is said to be one of Europe’s unicorns, this listing would make it one of the largest in Europe for this year. Of the US$420 trillion of global transactions, Adyen has a fraction at US$90 billion as of 2016. The Company was valued at US$2.3 billion in 2015.

Malaysian-based poultry producer Leong Hup International seeks to raise as much as US$600 million in a possible domestic IPO this year, reports The Edge Markets. The Company produces animal feed and poultry farming in the South East Asia region. The US$600 million target has not been confirmed by the Company, but it could be the country’s largest IPO since July of last year. Credit Suisse, JPMorgan and Malayan Banking are advising on the potential deal.

Vietnam’s Techcombank is set to have its IPO on the Ho Chi Minh City Stock Exchange on the 4th of June, reports Vietnam News. Over 1.1 billion shares will be sold at US$5.62 each, this would make the Company the seventh largest  company by market value in the country, so far, the bank has been valued at US$6.5 billion. Vietnam limits foreign investors to own a total of 30 per cent of any local company, Techcombank has 22.5 per cent foreign ownership. As of 2017, the bank had US$11.8 billion in assets with pre-tax profit at US$350 million.

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