Capital Raises Weekly Wrap - 03/09/2021

This past week has seen fourteen placements occur across five different sectors. The materials sector led the way with five placements raising the most funds ($125.2m) of any sector at the largest average discount (18%).

The consumer sector was the other large mover in the placements space with three raises occurring to raise $102m with a far slimmer average discount of 7.6%.

Placement Overview

*Placements are limited to those which left a trading halt between 30/08 and 03/09.

Volt Resources Limited (ASX:VRC) raised $5.75m via placement with funds to be used to commercialise the development of battery anode and other downstream graphite products in Europe and the United States, drive the Zavalievsky Graphite Business, complete Lithium Ion Battery (LIB) cycling testwork on the Bunyu graphite, and general working capital. The issue price of $0.025 represented a 16.7% discount to the last close and a 15.5% discount on the 15-day VWAP.

Nanoveu Limited(ASX:NVU) raised $1.35m via placement with funds to be used to support the development of their nanotechnology and global growth. The issue price of $0.045 represented a 6.25% discount to the last close and subscribers will receive one free attaching option at $0.058 for every two shares subscribed to under the placement with a two-year expiry.

Bellevue Gold Limited (ASX:BGL) raised $106m via placement with funds to be used along with a $200m debt facility to develop the Bellevue Gold Project in Western Australia (See ASX announcements dated 2 September 2021 for more details). The issue price of $0.85 represented a 10.1% discount to the last close.

Sector Breakdown

For a more detailed look at how the ASX sectors are performing check out: https://www.freshequities.com/ASX/sectors 

90 Days Post Placement Performance

Looking back 90 days to see how placements have performed post placement takes us back to late April 2021.

Top performing:

• Lion Energy Ltd (ASX:LIO) peaked at a 227% increase from issue price 9 days post raise and fell back to an increase of 47% after 90 days.

• Tempus Resources Limited (ASX:TMR) peaked at a 83% increase from issue price 79 days post raise and fell back to an increase of 41% after 90 days.

Worst performing:

• Xanadu Mines Limited (ASX:XAM) saw a 52% decrease from issue price 90 days post raise.

• Carbon Revolution Ltd (ASX:CBR) saw a 23% decrease from issue price 90 days post raise.

Check out our Past Capital Raises page for more information on past transactions.