Mining company Golden Horse Minerals will ring the ASX bell on Monday, under the ticker GHM at 1pm Sydney time.
The Canadian-listed company will make its Australian debut, after announcing its initial public offering back in November of 72 million chess depositary interests (CDIs) priced at $0.25 per share.
Golden Horse, which is based in Perth but has its primary listing on the TSX Venture Exchange, will then voluntarily delist from the TSXV at close of trading in Canada on Tuesday, December 31, 2024.
The company plans on using the A$18 million (before costs) capital raised to continue its drilling and exploration programs planned for 2025, at its Southern Cross Project, which spans over 130 kilometres.
“Golden Horse is 100% focused on drilling our priority targets which we believe are capable of unlocking the immense potential of the region for additional resources and new discoveries,” chief executive Nicholas Anderson said.
The gold exploration company covers the gold provinces in the Southern Cross region of Western Australia, within the Southern Cross Greenstone Belt, focusing on a northern portion of the Greenstone Belt known as the Fraser Shear Zone.
The listing comes after data centre operator DigiCo REIT (ASX: DGT) made its debut on the ASX last Friday.
Billed as Australia's largest IPO in six years, following Viva Energy's (ASX: VEA) 2018 listing, and the largest real-estate-related listing in over a decade, the stock has since underwhelmed amid valuation concerns.
Investment manager HMC Capital, behind the IPO, said it was oversubscribed after targeting $2 billion in capital, but increased to $2.746 billion, driven by demand from institutional and retail investors.
Despite the DGT share price lifting 2% during the first two hours of trading, the stock tumbled 9% to close at $4.55, down from its $5 issue price.
In its second day of trade, DigiCo shares have tanked over 11% intraday to $4.02, and are trading at $4.19, almost 8% lower by 12:40pm AEDT.
HMC Capital (ASX: HMC) shares are 8.7% lower at $10.29 at 12:53pm AEDT.
Ahead of the IPO, Morningstar analyst Lochlan Halloway said that DigiCo shares were overvalued, citing a fair value estimate of $3.40 per share.