In today’s briefing:
- Ventia (VNT AU) – Placement Could Lead to ASX200 Inclusion in June
- Ventia Services Group Placement – Well-Flagged and Last Deal Held up Well
- Vection Technologies – Poised to reach guidance after a strong quarter
- Empire Energy Group Ltd – NT Gas Policy Now Set – It’s Back to EEG
- Pointerra Ltd – Q3 Cashflow Positive, More to Come
Ventia (VNT AU) – Placement Could Lead to ASX200 Inclusion in June
- Ventia (VNT AU) completed an A$300m placement overnight with Apollo and CIMIC Group Ltd (CIM AU) selling around 14% of the shares outstanding at a small discount to the close.
- The placement will significantly increase Ventia (VNT AU)‘s float and make the stock a high probability inclusion to the S&P/ASX 200 (AS51 INDEX) at the June rebalance.
- We now expect two changes to the S&P/ASX 200 (AS51 INDEX) in June and the impact on the stocks is over 5.5 days of ADV to trade.
Ventia Services Group Placement – Well-Flagged and Last Deal Held up Well
- Ventia (VNT AU)‘s two largest shareholders, Apollo Global Management and CIMIC Group, aim to raise around US$166m via a secondary block deal.
- The deal is a slightly large one to digest at 12.5 days of three month ADV, 23 days of ADV and about 11.5% of current mcap.
- In this note, we will talk about the placement and run the deal through our ECM framework.
Vection Technologies – Poised to reach guidance after a strong quarter
Vection Technologies’ Q323 activities report confirms that contract growth continued to accelerate in H223, with the company reporting 100% total contract value (TCV) growth from the end of January to 28 April. The momentum in TCV growth indicates that management is well-positioned to deliver the triple-digit half-on-half top-line growth required to reach its FY23 expectations. Cash receipts on a quarterly and nine-month basis increased year-on-year. Vection Technologies’ balance sheet is set to be sustained by a further A$3.5m in Q423 from an R&D tax receipt and outstanding invoices, supporting the company’s M&A pipeline.
Empire Energy Group Ltd – NT Gas Policy Now Set – It’s Back to EEG
- Empire Energy Group Limited (ASX:EEG) is an oil and gas producer/developer, with onshore Northern Territory (NT) and US oil/gas production assets.
- EEG has the largest tenement position in the highly prospective Greater McArthur Basin, which includes the Beetaloo Sub-basin.
- The NT energy basins are fast developing as strategic high-calorific gas bolsters for east coast Australia’s future domestic requirements, growing Gladstone LNG ullage and potential supply for Darwin’s expanding LNG export terminals, amid funding support from Territory and Federal governments.
Pointerra Ltd – Q3 Cashflow Positive, More to Come
- Pointerra Ltd (ASX:3DP) provides a powerful cloud-based solution (Pointerra3D) for managing, visualising, analysing, using and sharing massive 3D point clouds and datasets.
- Pointerra3D is a proprietary digital twin SaaS platform which delivers predictive digital insights and definitive answers to complex physical asset management questions.
- The Pointerra3D suite of solutions spans target sectors including survey and mapping; architecture, engineering and construction (AEC); utilities; transport; resources and defence and intelligence.
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