OnMarket in the news

First ASX raising nets $50m

First ASX raising nets $50m

by Brett Cole (Business Spectator) 24 Dec 2013

U$D Coal, a Chinese-owned Queensland coal explorer, has raised 40 per cent of its $125 million initial public offering through the ASX bookbuild process, the first ASX IPO to use the method for part of its fundraising.

U&D Coal IPO floats 20 per cent of company

U&D Coal IPO floats 20 per cent of company

by Sally Rose (AFR) 16 Dec 2013

Speculative junior explorer U&D Coal will launch its initial public offer on Monday with hopes of raising $125 million to fund the development of its first operating coal mine by 2015. U&D’s Chinese owners will float about 20 per cent of the business on the ASX through ...

ASX BookBuild to launch its first IPO

ASX BookBuild to launch its first IPO

by Brett Cole (Business Spectator) 16 Dec 2013

The ASX BookBuild system is about to be tested with its first initial public offering. Chinese-owned Queensland coal explorer U&D Coal Ltd plans to raise between $50 million and $125 million in an IPO scheduled to open on Monday, December 16, U&D company secretary ...

Perth's LNG to raise $15.5bn via ASX Bookbuild

Perth's LNG to raise $15.5bn via ASX Bookbuild

by Andrew Main (The Australian) 09 Dec 2013

Perth-based gas explorer Liquefied Natural Gas has announced a raising of around $15.5 million via the ASX Bookbuild system. It will be the first "vanilla'' equity raising after a previous dividend reinvestment plan stock selldown of similar size by Wilson Asset Management in mid October.

LNG turns to ASX BookBuild for $15m raising

LNG turns to ASX BookBuild for $15m raising

by AFR Street Talk (AFR) 09 Dec 2013

Liquefied Natural Gas Ltd is seeking to raise $15 million in an institutional placement through the ASX BookBuild platform. The company went into a trading halt on Monday morning, as brokers started contacting potential investors.

ASX on-market book build has second deal

ASX on-market book build has second deal

by Brett Cole (Business Spectator) 09 Dec 2013

Ben Bucknell, the chief executive of On-Market BookBuilds Ltd, has his second deal. Foster Stockbroking Ltd is using the capital raising technology to sell up to $16.2 million worth of shares in Liquefied Natural Gas Ltd. The share sale is expected to be completed by midday on Tuesday.

Priced to imperfection: vendors could be big losers in conventional raisings

Priced to imperfection: vendors could be big losers in conventional raisings

by Andrew Main (The Australian) 05 Dec 2013

While Australia's sharemarket investors have enjoyed a strong run with IPOs in the past six months, there's a belief in one quarter at least that the conventional way of raising equity in the sharemarkets is shortchanging vendors in a big way.

Priced to imperfection: vendors could be big losers in conventional raisings

Priced to imperfection: vendors could be big losers in conventional raisings

by Andrew Main (The Australian) 05 Dec 2013

While more than $1.77 billion has been raised in initial public offerings since the recent wave started with health provider Virtus in June, there has been a gross $329 million left on the table in terms of profit forgone by vendors selling too cheap.

New capital raising platform

New capital raising platform

by Tony Featherstone (InFinance) 03 Dec 2013

ASX BookBuild provides a more level playing firld for investors to participate in equity capital raisings, and opportunities for retail stockbrokers to grow their business. With a sluggish economy and volatile markets, many stockbroking firms have been struggling ...

Ansell snubs retail investors

Ansell snubs retail investors

by Mike King (The Motley Fool) 28 Nov 2013

Another Australian company has shown retail investors what it really thinks of them, with glovemaker Ansell (ASX: ANN) raising $338 million from institutional shareholders. While the company has also announced a Share Purchase Plan (SPP) of $100 million for ...

Getting a better deal on IPOs

Getting a better deal on IPOs

by Christine St Anne (Morningstar) 28 Nov 2013

There is a strong pipeline of initial public offerings (IPOs) for the Australian share market. Twenty-nine IPOs have already been announced for December with more slated for the new year. In the old days, only a select group of investors would have access to these IPOs. 

A lesson in entrepreneurship

A lesson in entrepreneurship

by Vish Teckchandani (Finsia) 04 Nov 2013

Ben Bucknell is a corporate lawyer and investment banker-turned entrepreneur who's undergone a gruelling five-year journey which invloved, through his start-up business On-Market BookBuilds, bringing to life new technology that promises to revolutionise the way ...

Investment banks 'overpaid' for capital raisings

Investment banks 'overpaid' for capital raisings

by Andrew Cornell (AFR) 28 Oct 2013

In the immediate aftermath of the financial crisis, when banks were calling in loans, capital markets were expensive and volatile – if they were open at all – and desperate measures were called for if companies were to refinance and stay alive.

Bank fees on raisings soar, especially low-risk offers

Bank fees on raisings soar, especially low-risk offers

by The Australian 28 Oct 2013

INVESTMENT banks have dramatically increased the fees they charge for capital raisings in the post-global financial crisis market and take the highest fees for the least risky offerings, a landmark study has found.

Sophisticated investors enter the inner circle

Sophisticated investors enter the inner circle

by Jeremy Chunn (AFR) 23 Oct 2013

Sometimes people have the most fun at the parties to which you are never invited. It always hurts afterwards to hear about the good time had by all. The parallel in the world of investing is discounted capital raisings, where a company may wish to issue new shares at ...

Extended interview with Ben Bucknell

Extended interview with Ben Bucknell

by Alan Kohler (ABC) 20 Oct 2013

Video: Alan Kohler discusses ASX BookBuild with Ben Bucknell.

SkyNews interview with Geoff Wilson

SkyNews interview with Geoff Wilson

by Bridie Barry (Sky News Business) 16 Oct 2013

Video: SkyNews Business Host Bridie Barry interviews WAM Capital Chairman, Geoff Wilson.

SkyNews interview with Ben Bucknell

SkyNews interview with Ben Bucknell

by SkyNews Business 15 Oct 2013

Video: Switzer interviews Ben Bucknell on SkyNews Business

WAM Capital DRP shortfall placement oversubscribed by 67%

WAM Capital DRP shortfall placement oversubscribed by 67%

by WAM Capital Limited 15 Oct 2013

WAM Capital Limited (ASX: WAM) ('WAM Capital') announces it has successfully raised $24.7 million (13.8 million ordinary shares) through a placement to professional and sophisticated investors. WAM Capital Chairman Geoff Wilson said: "The Placement has been ... 

New share-selling scheme goes great for WAM Capital

New share-selling scheme goes great for WAM Capital

by Andrew Main (The Australian) 15 Oct 2013

FUND manager Geoff Wilson was a happy man last night as bids came in for Australia's first "On-Market Bookbuild", a test of the technology ASX Limited is offering to issuers looking to widen the shareholders spread of new offerings and keep costs down.

Bankers see red over BookBuild halt

Bankers see red over BookBuild halt

by Brett Cole (The Australian) 15 Oct 2013

BANKERS are, at times, a sensitive lot. A number of choice adjectives have been used to describe the ASX's decision to grant WAM Capital a two-day trading halt to allow it to sell just 8.3 million shares on the new ASX BookBuild facility.

2GB interview with Geoff Wilson

2GB interview with Geoff Wilson

by Ross Greenwood (2GB Radio) 15 Oct 2013

Audio: 2GB Radio's Ross Greenwood interviews Geoff Wilson of WAM Capital.

WAM raising 67pc oversubscribed 'On Market'

WAM raising 67pc oversubscribed 'On Market'

by Stephen Shore (AFR) 15 Oct 2013

WAM Capital has raised $24.7 million for its dividend reinvestment plan after its capital raising through the Australian Securities Exchange’s new On Market Bookbuilds facility was 67 per cent over subscribed. WAM Capital issued 13.8 million shares at $1.785 per share ...

WAM in trading halt to raise $15m

WAM in trading halt to raise $15m

by Stephen Shore (AFR) 15 Oct 2013

Wilson Asset Management and the Australian Securities Exchange on Monday defended their decision to put WAM Capital into a trading halt to raise $15 million as part of a dividend reinvestment plan.

ASX makes IPO process more transparent

ASX makes IPO process more transparent

by Mark Woodruff (The Motley Fool) 14 Oct 2013

With all the excitement surrounding many IPOs (initial public offerings), it’s easy to lose sight of the basic business principle at play. A company issuing shares is aiming to raise the maximum amount of money to reinvest and drive the business forward.