HAL) no longer shines after debut – The Market Herald

Shares of Halo Technologies (HAL) have plunged 27.5% since its debut on the ASX yesterday.

The listing came after the company raised more than $36 million through an IPO at a price of $1.20 per share.

The Australian firm provides global equity market research and services to thousands of investors, most of whom are over the age of 50 and have portfolios of $500,000 or more. It plans to expand its services internationally.

In his interview with Deal Room, co-founder and chief executive George Paxton said he wasn’t concerned about early market swings.

“I feel good about it,” Mr. Paxton said.

“It’s the end of a journey we’ve been on: growing the business since its inception, having these user numbers; we acquired a company called Macrovue from AMP in 2019, so we’ve been through a load of sales and tech development and the IPO kind of feels like the end of something, but also the start of something thing – a much more exciting chapter in the company’s history.

The market cap of the company is nearly $142.5 million. The shares were trading at 87 cents at mid-term.

After a high-profile launch in Perth earlier this year, fertilizer player RLF AgTech (RLF) listed on the ASX late last week after an $8.5 million IPO. issuing shares at 20 cents.

The company says trials prove its products deliver a 10-30% increase in crop yields with a return on investment for farmers of over 200%.

Managing Director Ken Hancock said the company will now continue its growth strategies by expanding its sales and marketing teams.

“We are working diligently to support farmers during this challenging time of rising production costs by providing alternatives to soil-applied fertilizers and increasing crop yields to maximize farmer profits,” Mr Hancock said.

“The carbon credit environment continues to be a dynamic place to operate and our RLF Carbon business is well positioned to navigate changing regulations and begin generating carbon credits.”

RLF AgTech’s market capitalization sits at around $37 million and shares are down 5.5% today at 17 cents at 1:40 p.m. AEST.

Other new listings this week include Northern Territory lithium explorer Lithium Plus Minerals (LPM) and energy play Paringa Resources (PNL).

Graphite player Renascor Resources (RNU) is launching a stock purchase plan to raise $10 million at 27 cents per share.

The offering comes after the company announced yesterday that it had raised $65 million from institutional investors to develop its Siviour Battery Anode Material project in South Australia.

Renascor also received conditional approval for a $185 million loan from the federal government’s $2 billion Critical Minerals Facility.

Managing Director David Christensen said Renascor intends to supply 100% purified spherical graphite made in Australia for manufacturers of lithium-ion battery anodes internationally.

“The funds raised will enable Renascor to accelerate the development of an expanded Phase 1 operation that will aim to capture the substantial value inherent in the growing demand for the Siviour PSG (purified spherical graphite) product,” he said. .

Renascor will carry out engineering and design work, long-term procurement, resource expansion and early work for the project.

The stock purchase plan opens on May 4.

Renascor has a market capitalization over $590 million and shares were down just over 3% this afternoon at 30 cents.

Triton Minerals (TON), which is also raising for a graphite project, is seeking around $4.1 million through a placement for its work in Mozambique.

The raise is priced at 2.9 cents per share, representing a discount of nearly 14% from the previous trading price.

The first $464,000 was committed by investors.

Triton was trading down more than five percent on the news at 3.2 cents at 2:28 p.m. AEST.

The following companies are also in a trading halt before the capital raising announcements: Black Canyon (BCA), Green Technology Metals (GTI), Linius Technologies (LNU), Oncosil Medical (OSL), Respiri (RSH) and Talon Energy ( PDT).