Year-to-date IPO performance and upcoming listings: Botala Energy

Mon 11 Jul 22, 12:56pm (AEDT)
IPO 4 - wooden blocks on documents spelling out IPO
Source: iStock

Key Points

  • 1 scheduled listing for this week
  • IPO activity is starting to dry up over the next few weeks
  • A summary of year-to-date IPO performance and comparisons with 2021

Every Monday, Market Index reviews the upcoming IPOs for the week.

IPO activity has slowed down substantially in the new financial year, with just three IPOs scheduled for the rest of July.

All times are quoted in Australian Eastern Standard Time.  All dates and listing times are subject to change.  

Year-to-date summary

Year-to-date, there have been 63 IPOs, the average IPO opened 17% higher.

This statistic is buoyed by massive one day gainers such as Lithium Plus Minerals (ASX: LPM), Firebrick Pharma (ASX: FRE) and Killi Resources (ASX: KLI).

Though, the average IPO this year is down -5.4% since listing.

To add some perspective, there were 202 IPOs in 2021.

The average IPO last year rose 20.7% on its first day of listing and now down an average -17.5%.

Botala Energy

  • Coal-bed methane exploration

  • Raising $7m at 20 cents

  • Market cap $27-30m

  • Lists on Thursday, 14 July at 2:30 pm

  • Lead manager to be issued 2m shares

Botala Energy (ASX: BTE) is focused on developing coal-bed methane (CBM) production from the Serowe Project (70% interest) located in Botswana.

CBM is a form of natural gas extracted from coal seams.

The immediate goal is to test, measure and demonstrate commercial flow rates and increase reserves by further exploration drilling and determine CMB "sweep spots", according to the company's prospectus.

A five-well commercial pilot programme is expected to occur in 2022 to determine coal depths, thickness, correlations and coal continuity.

In addition, Botala is actively undertaking early-stage research and development activities to assess the viability of developing a local energy hub and industrial park for hybrid electricity generation.

Written By

Kerry Sun

Content Strategist

Kerry holds a Bachelor of Commerce from Monash University. He is an avid swing trader, focused on technical set ups and breakouts. Outside of writing and trading, Kerry is a big UFC fan, loves poker and training Muay Thai. Connect via LinkedIn or email.

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