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Upcoming IPOs include Cronos, Primewest, and VGI Asia fund

Three new companies will list on the ASX in the coming week which are Cronos Australia Ltd (ASX:CAU), Primewest Group Ltd (ASX:PWG), and VGI Partners Asian Investments Ltd (ASX:VG8).

Cronos to raise up to $20 million at 50 cents

Cronos Australia is a medicinal cannabis company that plans to enter the medicinal cannabis market in Australia with both THC and CBD products, and has secured all the necessary Australian licences to operate – including import and export licences.

In addition to distributing the in-market brand PEACE NATURALS™, which is sold in Canada and Germany, Cronos Australia proposes to outsource the manufacturing and distribution of its own brand of medicinal cannabis products for Australia and target export markets.

Primewest to raise up to 100 million at $1.00

Primewest is a private real estate funds management firm which manages $3.9 billion of property assets which are diversified across 76 unlisted funds and 7 different asset classes.

In FY19, Primewest generated $25.6 million in net revenue resulting in $15.7 million of pro forma Adjusted EBITDA.

Using the $1 IPO issue price, the implied platform value represents 10.5x pro forma forecast FY20 EBITDA and has a pro forma forecast FY20 annualised yield of 5.0%.

VGI to list latest Asia fund at $2.50

The VGI Partners Asia fund will be a listed investment company, similar to the already-listed VGI Partners Global InvestmeRead More – Source