* A corporate client of Hybridan LLP.
** Potential means Intention to Float (ITF) or similar announcement has been made.
***Arranged by type of listing and date of announcement.
****Alphabetically arranged and priced on Share Price and Market Capitalisation during the time of writing on the day of Publication.
Admissions:
None
Delistings:
None
What’s baking in the oven?
Potential IPOs:***
9 April: The National Investment Fund of the Republic of Uzbekistan (UzNIF) announced that it is considering proceeding with an IPO in the form of ordinary shares and Global Depositary Receipts. UzNIF is considering applying for Admission of its ordinary shares to trading on the Tashkent Stock Exchange and for Admission of its GDRs to the LSE Main Market. All of the Securities to be offered as part of the Offering will be secondary shares from The Ministry of Economy and Finance of the Republic of Uzbekistan. Any additional details in relation to the Offering would be disclosed in further announcements and in the Prospectus, if and when published.
8 April: Rift Helium intends to IPO onto AIM late April. Rift is a helium exploration and development company currently focused on the exploration of a discovery-ready, non-hydrocarbon associated helium bearing acreage at its early-stage Upepo Project, located in southwestern Tanzania, within the Rukwa Rift - forming part of the East Africa Rift System (the "Upepo Project"). The Upepo Project comprises three prospecting licences over 283 km2 in the Rukwa Basin, near to existing helium projects operated by Helium One Global Ltd (AIM: HE1) ("Helium One") and Noble Helium Limited (ASX: NHE) ("Noble Helium"). The Company is raising £8.0m.
17 March: Vista Parcs Group has announced its intention to IPO onto AIM. The newly incorporated entity is proposing to acquire a portfolio of 13 UK-based holiday and residential parks currently owned by Barney Group 2 Ltd (BG2) and operated by Baslow Parks Ltd. Deal details TBC and expected Admission date anticipated mid-May.
4 March: Scotch Corner Designer Village Holdings plc, which is developing a largely pre-let retail and leisure destination in the North of England, announced its intention to apply for Admission to trading on the Aquis Real Asset Market (ARAM) segment of the Aquis Stock Exchange Growth Market. The Company is seeking to raise £25.5m. The listing is expected to complete in April.
Market Movers:***
15th April: Rosebank Industries (ROSE.L) will move from AIM to the equity shares (commercial companies) (ESCC) category of the Official List of the FCA and to trading on the main market for listed securities of the London Stock Exchange on 1 May 2026. The last day of trading on AIM is therefore expected to be 30 April. Rosebank does not intend to raise any funds or offer any new Ordinary Shares in connection with Admission. The Company anticipates inclusion in the next Quarterly Review of the FTSE 250 Index, although inclusion remains subject to review by FTSE Russell.
13th April: EDX Medical (AQSE:EDX) which develops digital diagnostic products and services supporting personalised treatments for cancer, cardiovascular and infectious diseases, announced its intention to move to AIM from AQSE. No new capital is to be raised on Admission and the anticipated market capitalisation is £44.28m. Expected Admission date of 13th May.
1st April: Oscillate (AQSE: SRVL), the Company focused on building an independent copper and future metals developer, announced that further to the announcement on 9 February of the conditional acquisition of Kalahari Copper, it has conditionally completed an equity fundraising of £2.9m and plans to move to AIM from AQSE with a market cap of £7.6m. Net proceeds of the Fundraising will allow for the advancement of the Company's proposed exploration assets in Namibia and Botswana. In addition, the Company will change its name to Serval Resources. Admission to AIM is expected to occur on 27 April.
20th February: Wildcat Petroleum (WCAT.L) announced its plans to cancel its Main Market listing and move to the Aquis Growth Market. In parallel with the proposed cancellation, the Board intends to pursue opportunities in the gold sector, with a view to developing the Company as an African-based gold processing business. Timing TBC
Banquet Buffet****
Bow Street Group 0.3p £6.67m (BOW.L)
The owner and operator of Wildwood and dim-t restaurants, reports the FY to December 2025. Revenue decreased 14.5% to £31.3m, with an EBITDA of £2.1m down from £3.6m. Since September 2025, trading started to stabilise across both restaurant brands, and the Company delivered a strong Christmas trading. The strategic highlights are that David Page was appointed Executive Chairman and Nick Wong was appointed as CFO with 52 and 21 years of restaurant experience respectively. They launch a new growth strategy related to the fundraise of £10.1m in September 2025, to improve technology and operations, and acquire exciting and scalable restaurant brands. The current net cash (excluding property lease liabilities) was £9.0m as at 13 April 2026. The Group remains in active discussions with several scalable restaurant brand acquisition targets.
Frontier IP Group 18.50p £13.24m (FIPP.L)
The specialist in commercialising IP reports that a portfolio company, 2D Photonics Group S.p.A in which it owns 9.1% has been awarded a grant. Photonics announces that the European Commission has approved EUR211m in Italian State Aid for its wholly owned subsidiary CamGraPhIC s.r.l. The grant funding will be used to accelerate development and scale up 2DP's advanced graphene photonics technology. This is designed to address one of the biggest problems hindering the progress of AI and other advanced computing and communication applications by moving data much more quickly within systems. It offers higher bandwidth density, lower latency and significantly lower energy consumption than silicon photonics and is therefore faster and cooler.
hVIVO 8.45p £59.89m (HVO.L)
The purpose-built, full-service international clinical development partner and the world leader in human challenge trials, reports finals to December 2025. In a year of significant strategic progress revenue decreased 25.4% to £46.8m, with an EBITDA of £1.4m down £16.4m. The cash was £14.3m at the YE compared to £44.2m. Two synergistic acquisitions were completed of two Clinical Research Units from CRS for EU10.0m, expanding the Group's capabilities to early-phase trial services and diversifying therapeutic expertise to include cardiometabolic, immunology and renal impairment studies. Growth initiatives coupled with operational improvements and cross-selling opportunities provide multiple pathways to topline growth and margin enhancement.
Iofina 31.25p £56.60m (IOF.L)
The specialists in the exploration and production of iodine and manufacturers of specialty chemical products updates on Q1 2026. Iofina Resources reported a 44% increase in production to 178.9 metric tonnes (of crystalline iodine from its eight plants in Oklahoma. There was a strong operational performance, as new capacity was added in H2 2025 and higher-than-usual brine temperatures contributed to the significant increase in iodine production. The Company now expects to exceed the previous H1 2026 production guidance of 325MT-355MT. Based on the current trends, the Company is now anticipating H1 2026 production to be closer to 385MT. The demand for raw iodine has continued to be strong, with spot prices remaining above $70/kg. The development of its new, larger IOsorb plant with Western Midstream Partners in the Permian Basin, is on track to be operational by the end of Q3 2026.
Made Tech Group 42.50p £60.46m (MTEC.L)
The provider of digital, data and technology services to the UK public sector has been awarded a new three-year contract with the Government Digital Service for a total contract value of £19m and is expected to start contributing from FY27. The programme is intended to improve collaboration and productivity, strengthen security, and reduce overall cyber risk exposure. Following this contract award, the Group's year-to-date Sales Bookings have increased materially to £54m, including around £41m of new Sales Bookings. The expected uptick in bookings during H2 supports current expectations for FY26 and enhances revenue visibility for FY27.
Petards Group 11.75p £7.13m (PEG.L)*
The AIM quoted developer of advanced security, communication and surveillance systems reports finals to December 2025. Revenues increased 19.5% to £14.9m with the first full year contribution from Affini and an improvement at Petards Rail. The gross profit margins of 49.7% compared to 45.3%, leading to a loss after tax of £0.46m (2024: £1,127,000 loss). The cash inflow from operating activities increased to £1.38m, compared to £194k, with net debt (before lease liabilities) totalling £1.34m compared to £1.54m.The YE order book is £9.2m against £7.1m of which £7.7m in the prior period and is for delivery in 2026. Over 50% of revenues are now from service, engineering support, spares, repairs and managed services. QRO completed its move to larger premises in February 2026 to facilitate future growth. The Chairman reported that the Company starts 2026 in a stronger position than has been the case in the past few years and is well placed to deliver a continued improvement in its trading performance. Ben Gillam has joined the Board as CFO and Executive Director with immediate effect.
Poolbeg Pharma 4.50p £31.37m (POLB.L)
The clinical-stage biopharmaceutical Company with a core focus on transforming the cancer immunotherapy field has been granted authorisation by the UK Medicines and Healthcare products Regulatory Agency for Clinical Trial Authorisation for POLB 001. With all required regulatory clearances now in place and site initiation visits scheduled, the trial remains on track to deliver interim data this summer. There are positive findings from new independent US research conducted by Acumetis Global indicating multi-billion-dollar peak sales potential in the US. The Company believe that POLB 001 has the potential to transform the cancer immunotherapy field with its lower cost efficacy expanding the number of patients that can receive these life-saving cancer immunotherapies.
Proteome Sciences 1.58p £5.52m (PRM.L)
The specialist provider of contract proteomics services to enable drug discovery, development and biomarker identification, reports finals to December 2025. Revenues decreased 23.1% to £3.76m due to a fall in reagent sales and royalties to £1.7m from £4.o1m, while services increased from £0.87m to £2.06m. Losses decreased to £3.06m from £3.41m and net cash reduced to £0.78m from £1.13m. 2025 is seen as the bottom of the cycle as there has been significant investment made in additional capacity at the San Diego facility and the recent fund raising of £0.97m. The CEO is optimistic about growth expected to continue from the services business and a recovery in reagents.
Silver Bullett Data Services Group 22.5p £3.63m (SBDS.L)
The provider of AI-driven digital transformation services and products updates on Q1 Trading. Revenue for Q1 2026 increased by 22%, which is 9% above budget. This growth has been achieved alongside improved margins, reflecting a continued focus on higher-quality revenue and operational efficiency. Several key accounts have increased spending, alongside increased renewal rates across its broader client base. Following the cost restructuring implemented at the end of 2025, the business is well positioned to drive further productivity gains, including leveraging AI capabilities to enhance efficiency and scalability across its operations. Q1 26 EBITDA is positive representing a £0.7m improvement. Management expects this positive EBITDA performance to continue and anticipates the business will be cash flow positive from the end of Q2 onwards.
Windar Photonics 31.00 £26.60m (WPHO.L)
The technology group that has developed a LiDAR wind sensor and software suite designed to monitor and optimise wind turbine performance across multiple turbine platforms updates on performance, funding and prospects. There has been a record number of new test orders in Q1 2026 with a significant forward pipeline and the Independent Power Producers commissioning these tests together operate more than 10,000 turbines, making this by far the most extensive concurrent testing programme in the Company's history. A £20m Share Subscription Facility is agreed with GEM Global, which gives Windar the right but not the obligation to draw down capital at a 10% discount to the prevailing market price over the next three years.
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