June is set to be a big month for ASX floats as many companies finalise their initial public offerings (IPO) and get ready to hit the Australian market.
Here are three junior miners set to list on the ASX next month.
3 ASX shares getting ready to float after IPOs
Southern Palladium Limited (ASX: SPD)
Palladium explorer and developer Southern Palladium is expecting to float on the ASX in early June after offering its shares for 50 cents apiece during its IPO.
The company raised $19 million through its oversubscribed IPO. It was previously planning to list on both the Johannesburg Stock Exhange and the ASX on 25 May. However, both floats have since been pushed back.
The company will acquire a 70% interest in South Africa’s Miracle Upon Miracle Investments Proprietary Limited (MUM) immediately before its float. MUM owns the rights to prospect the Bengwenyama platinum group elements project.
At its offer price, Southern Palladium expects to list with a market capitalisation of $45 million.
Nordic Nickel Limited (ASX: NNL)
Nordic Nickel is expecting to float on the ASX tomorrow after it raised $12 million through its initial public offering, offering 48 million shares for 25 cents apiece.
The company is working on discovering, developing, and supplying sustainable, low-carbon critical minerals for the energy transition.
The company’s projects are located in Finland in a largely unexplored region known to house world-class nickel, copper, and cobalt.
It’s expecting to boast an undiluted market capitalisation of around $28.8 million upon floating.
OD6 Metals Limited (ASX: OD6)
OD6 Metals is a rare earth element explorer with its sights on potentially developing projects in the future. It’s expecting to hit the ASX in mid-to-late June.
The company has secured more than 4,000 square kilometres of mineral exploration licenses in Western Australia’s southern Esperance-Goldfields region.
Under its prospectus, the company offered new shares for 20 cents apiece. It aimed to raise between $6 million and $8 million.
The company is expecting to list with a valuation of between around $18.5 million and $20.5 million.
The post 3 junior miners with initial public offerings and ASX floats in June appeared first on The Motley Fool Australia.
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