We take a look at upcoming IPOS in the UK due to be listed on the LSE over the next month and how their sector has been performing this year.
Expected opening date 17th May 2021
Expected issue price 42p-48p
Expected market cap £50m-£55m
At the helm Robert Rauker
Rauker has had extensive experience in the medical device sector, working across the development, marketing and sale of medical devices.
He previously served as Senior Vice President at Acacia Research Group which ultimately generated revenue of $30m. He also headed multi-billion-dollar companies Synthes Inc. and Boston Scientific Endoscopy in the same sector.
What they do
Bellascura is a UK-based medical device company focused on developing oxygen enrichment technology. It was founded by London-based IP investment firm Tekcapital, which owns 18% of shares at present. Belluscura has contributed to 18 patents and applications relating to concentrated oxygen generation.
Part of the strategy involves investing in new techniques to drive down manufacturing costs, targeting the market for premium quality devices. In March 2021, Belluscura was granted clearance from the FDA for its patented Portable Oxygen Concentrator; the market for portable O2 is forecast to grow from $1.6bn in 2018 to $2.4bn by 2025.
Expected opening date 24th May 2021
Expected issue price 150p
Expected market cap £105m
At the helm Paul Young
Young, 64, founded Kitwave in 1987, and has overseen its growth in the North East ever since. He has been a majority stakeholder, owning over 50% of the business, though upon admission to the LSE, senior management holdings will amount to less than a quarter (22.3%).
What they do
Kitwave began as a single cash-and-carry in Tyneside and grew steadily over the years until 2011, when private backing sparked rapid growth through the acquisition of ten wholesale distributors around the UK. It specialises in “impulse” products including confectionery, soft drinks, frozen and chilled groceries, alcohol and tobacco.
The company now has 26 depots in its network and employs 1100 staff. At the April 2020 year end, revenue amounted to £399m, and Kitwave plans to continue growing through the same buy-and-build strategy. The market in which it operates was estimated to be worth £26.1bn in 2020, and is expected to grow to £32.6bn by 2025.
Expected opening date Late May 2021
Expected issue price TBC
Expected market cap £67m – £76m
At the helm Rupert Hodson
Hodson, 49, founded Dianomi with two colleagues from Interactive Investor back in 2002. He started his financial career in 1994, and went on to spend 5 years at Interactive Investor heading up the commercial team.
What they do
Dianomi specialises in native advertising, allowing brands to place adverts that match the format of the platform, and generates revenue per click or per impression. It boasts an impressive client list, including many of the world’s largest asset and wealth management companies, and half of the top 10 Wall Street banks.
Total revenue reached £28.4m last year, a compound annual growth rate of nearly 50% over the last five years. Much of the company’s business is currently focused in the US, and proceeds from the float will be used to expand operations in the US and across Europe, the Middle East and Africa.
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