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, there have been 63 IPOs, the average IPO opened 17% higher.
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%.
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.
Finance Writer & Social Media
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