StratMin turns to Tectonic Gold on NEX, Aquis challenger exchange to AIM IPO, Vivendi investors want to hear the sound of Universal IPO music

British-based and London AIM listed mining company, StratMin Global Resources Plc, is set to leave AIM and be called Tectonic Gold plc on the NEX Exchange Growth Market next month, after the reverse takeover of Signature Gold, according to the NEX Exchange’s new admissions list. 450,000,000 Ordinary Shares will be issued at 0.01p each, with the acquisition costing ￡9 million for the Company. Signature Gold is an Australian gold mining company that focuses on central and north-eastern areas of Queensland, and has outright licenses for seven areas that cover over 850km2.

UK share trading venue, Aquis Exchange, is planning to IPO on London’s AIM market next month, as it looks to take advantage of Mifid II, reports the Financial Times. Aquis receives a fee from its traders from a “pay for what you consume” model, and has attracted big traders and assets mangers through banning predatory high-speed trading. Aquis is the ninth largest equity share trading venue in Europe, with a two per cent market share. The Company looks to raise ￡12 million from the listing, giving it a market capitalisation of ￡73 million. Liberum are the NOMADs for the deal.

French media group Vivendi is under pressure from its investors to IPO its music subsidiary Universal Music, as the Company needs to make up from some losses due to setbacks in its Italian operations, reports the New York Times. BNP Paribas values the Company at €19.7 billion and JPMorgan values it up to €30 billion.  Yet one banker has said that an IPO might not happen as the Company wanted to up its share price, which has already happened from the news of the Universal IPO, but recent successful music IPOs such as Spotify have created an appetite to get in on an IPO for Universal. The music industry has now grown for the third year straight. Universal Music includes portfolios such as Taylor Swift, Drake, Rihanna and The Beatles.

French-based auto parts supplier Autodis is suspending its French IPO, which would have valued the Company at €1.2 billion, due to a “cautious” market environment, reports the New York Times.  The Company stated that is still plans to expand through Western Europe, with Bain Capital, who owns 91 per cent of the business. Last year, the Company made €1.3 million in revenue and €118 million in profits. 

Ahead of its potential IPO next year, Uber has had a tender offer valuing the Company at US$62 billion after it had trimmed its losses in the first quarter, reports the Financial Times. Some of Ubers investors are set to buy US$400 million to US$600 million worth of shares at US$40 each, this puts the Company back up to US$62 billion after it previously had dropped to US$48 billion. Losses were at US$577 million for this first quarter, compared to US$741 million in 2017’s fourth quarter.

Chinese car-hailing company, Didi Chuxing, is looking to IPO on the Hong Kong Stock Exchange this year, and wants to raise between US$70 billion and US$80 billion, reports China Daily. The Company has a US$55 billion valuation and is seeking anchor investors. Last year, the Company’s total trading value was said to be between US$25 billion and US$27 billion, which went up 70 per cent year-on-year, yet it made total losses up to US$400 million last year. Didi operates across 400 cities in China and has 450 million users, for whom it has done 7.43 billion rides. However, there have been issues with the Company’s “hitch” ride service, which it has had to change, due to women being harassed by the drivers and recently a woman getting killed by a “hitch” driver.