These 3 companies are set to IPO on the ASX next week

These shares will be some of the first to debut on the ASX in 2022.

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The ASX will soon welcome a number of new faces as the 2022 initial public offering (IPO) season kicks off.

Here are 3 shares expected to float on the market that might be worth keeping an eye on.

3 shares expected to IPO on the ASX next week

ChemX Materials Limited

ChemX Materials is on track to list on the ASX on Friday 14 January under the ticker code CMX.

It raised $8 million through its oversubscribed ASX IPO, issuing shares for 20 cents apiece. That sees it expecting to list with a valuation of approximately $18 million.

The raised funds will be put towards an exploration drilling program set to go ahead this quarter.

ChemX holds 2 exploration licences in South Australia, each for kaolin/halloysite manganese prospects.

It also has an agreement to acquire HiPurA and its high purity alumina (HPA) processing technology. The company believes demand for HPA is surging as manufacturers scramble to create lithium-ion batteries.

NICO Resources Limited

According to the ASX, NICO Resources is expected to list on Tuesday 11 January under the ticker NC1. However, its float has previously faced delays.

The company is a spin out of Metals X Limited's (ASX: MLX) nickel assets.

Its prospectus aimed to raise between $10 million and $12 million through issuing shares in the company for 20 cents apiece.

The proceeds will go towards exploration programs for potentially high-grade zones of nickel, cobalt, and scandium. It will also fund a review of mineral processing routes and the identification of information for a feasibility study update.

The company's major project will be the Central Musgrave Project, located on the intersection of the border of South Australia, Western Australia, and the Northern Territory.

Careteq Limited

Careteq is expected to IPO on the ASX on Monday 10 January under the ticker code CTQ.

It creates and provides software-as-a-service-based solutions to assist the elderly and those with disabilities to continue living their best lives.

To do so, the company has created its Sofihub platform.

It raised $6 million through its prospectus' offer, wherein its shares were sold for 20 cents apiece. That sees the company expecting to list with a market capitalisation of $24.7 million.

The raised funds will go towards Careteq's growth and cross-selling opportunities, as well as the development of new products, features, and applications.

Additionally, the company is planning to expand internationally, partnering with the SiTa Foundation in the United States to develop a safety device to be used against domestic violence.

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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