IPO Watch: Five of 2019’s IPO class are delivering 3x returns
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Five companies that have made their ASX debut this calendar year have more than tripled in value, Stockhead analysis has found.
They are: wireless internet provider Uniti Wireless (ASX:UWL), 3D body implant printer Osteopore (ASX:OSX),pot stock Ecofibre (ASX:EOF), buy-now-pay-later provider Splitit (ASX:SPT) and fund manager VGI Partners (ASX:VGI).
Uniti has fallen slightly in value since we last checked in, though at a return of 522 per cent you wouldn’t be too upset.
Osteopore had a phenomenal start to life on the ASX, rising 355 per cent in its first two days of listed life. And it has continued to climb: OSX shares are now sitting pretty at $1.02 a pop, a 410 per cent gain on the offer price of 20c.
Ecofibre, Splitit and VGI Partners have all more than tripled in value, and then there are four more companies which have doubled or more: bacteria-killing biotech Next Science (ASX:NXS), fintech Quickfee (ASX:QFE) and gym owner Viva Leisure (ASX:VVA).
This all means that, on average, a company listing in 2019 has gained 65 per cent. Not bad, considering there has been a significant reduction in initial capital raised via the ASX.
Candy Club (ASX:CLB) has the ignominious title of worst-performing IPO of the year, down 65 per cent, although one of its substantial shareholders is betting on the company to bounce back.
Here’s a performance rundown of this year’s ASX entrants:
Scroll or swipe to reveal table. Click headings to sort
| Listing Date | ASX Code | Company | IPO Price | Price Aug 27 | % Change to date |
|---|---|---|---|---|---|
| 02/13/2019 | UWL | Uniti Group Ltd | 0.25 | 1.495 | 5.22 |
| 09/23/2019 | OSX | Osteopore Ltd | 0.2 | 1.02 | 4.1 |
| 03/29/2019 | EOF | Ecofibre Ltd | 1 | 3.18 | 2.18 |
| 01/29/2019 | SPT | Splitit Payments Ltd | 0.2 | 0.625 | 2.13 |
| 06/21/2019 | VGI | VGI Partners Ltd | 5.5 | 17 | 2.09 |
| 04/18/2019 | NXS | Next Science Ltd | 1 | 2.93 | 1.93 |
| 07/11/2019 | QFE | QuickFee Ltd | 0.2 | 0.51 | 1.55 |
| 06/07/2019 | VVA | Viva Leisure Ltd | 1 | 2.18 | 1.18 |
| 07/30/2019 | SZL | Sezzle Inc | 1.22 | 2.44 | 1 |
| 08/22/2019 | OPC | OptiComm Ltd | 2 | 3.68 | 0.84 |
| 06/12/2019 | PBH | PointsBet Holdings Pty Ltd | 2 | 3.66 | 0.83 |
| 07/05/2019 | IXC | Invex Therapeutics Ltd | 0.4 | 0.65 | 0.62 |
| 08/30/2019 | IMR | Imricor Medical Systems Inc | 0.83 | 1.25 | 0.51 |
| 02/22/2019 | MPH | Mediland Pharm Ltd | 0.2 | 0.3 | 50% |
| 06/14/2019 | 2BE | Tubi Pty Ltd | 0.2 | 0.28 | 0.4 |
| 02/14/2019 | A1G | African Gold Ltd | 0.2 | 0.26 | 0.3 |
| 04/30/2019 | PE1 | Pengana Private Equity Trust | 1.25 | 1.57 | 0.26 |
| 08/16/2019 | FCL | Fineos Corp Holdings PLC-CDI | 2.5 | 3 | 0.2 |
| 06/14/2019 | VOL | Victory Offices Ltd | 2 | 2.4 | 0.2 |
| 05/28/2019 | IAP | Investec stralia Property Fu | 1.32 | 1.56 | 0.18 |
| 04/17/2019 | RDY | Readytech Holdings Ltd | 1.51 | 1.78 | 0.18 |
| 05/07/2019 | MRZ | Mont Royal Resources Ltd | 0.2 | 0.23 | 0.15 |
| 06/11/2019 | PGL | Prospa Group Ltd | 3.78 | 4.3 | 0.14 |
| 06/06/2019 | RLT | Renergen Ltd | 0.8 | 0.89 | 0.11 |
| 10/01/2019 | MAD | Mader Group Ltd | 1 | 1.11 | 0.11 |
| 06/17/2019 | RF1 | Regal Investment Fund | 2.5 | 2.68 | 0.07 |
| 05/14/2019 | PCI | Perpetual Credit Income Trust | 1.1 | 1.155 | 0.05 |
| 04/29/2019 | MOT | MCP Income Opportunities Trust | 2 | 2.06 | 0.03 |
| 09/26/2019 | PGG | Partners Group Global Income F | 2 | 2.05 | 0.03 |
| 06/19/2019 | WSP | Whispir Ltd | 1.6 | 1.6 | 0 |
| 06/06/2019 | PKS | PKS Holdings Ltd | 0.2 | 0.19 | -5% |
| 05/24/2019 | TIP | Teaminvest Private Group Ltd | 1 | 0.82 | -18% |
| 08/27/2019 | APV | Appsvillage stralia Ltd | 0.2 | 0.155 | -23% |
| 05/10/2019 | 360 | Life360 Inc | 4.79 | 3.5 | -27% |
| 03/07/2019 | CBY | Canterbury Resources Ltd | 0.3 | 0.215 | -28% |
| 05/23/2019 | PWL | Powerwrap Ltd | 0.35 | 0.22 | -37% |
| 10/03/2019 | TMG | Trigg Mining Ltd | 0.2 | 0.12 | -40% |
| 02/19/2019 | CLB | Candy Club Holdings Ltd | 0.2 | 0.07 | -65% |
Several entities are currently raising money, or trying to raise money, to get themselves onto the ASX. The Australian Financial Review has written about credit card company Latitude Financial, which is hoping to raise $1.4 billion in what would comfortably be the biggest IPO of the year.
Here’s a list of upcoming IPOs:
Scroll or swipe to reveal table. Click headings to sort
| Company | ASX code | IPO status | Focus | Fund raising | Issue price |
|---|---|---|---|---|---|
| Intega Group | ITG | Being demerged from Cardno (ASX:CDD), due to list Oct 22 | Engineering services | Demerger | n/a |
| Latitude Financal | LFS | Broker offer closes Oct 14, due to list Oct 25 | Credit cards | $1.4b | $2.25 |
| Nemex Resources | NXR | Offer extended to Nov 15, due to list Dec 6 | Gold and base metals exploration | $5m | 20c |
| PropertyGuru | PGU | Offer closes Oct 22, due to list Nov 1 | Digital classifieds | $380m | $4.50 |
| Tartana Resources | TNA | Offer extended to Oct 21, due to list Nov 3 | Copper and zinc exploration | $6m | 20c |
| HomeCo | HMC | Offer closes Oct 9, due to list Oct 18 | Retail | $325m | $3.35 |
| Trigg Mining | TMG | Offer extended to Aug 26, due to list Sept 20 | Potash | $4.5m | 20c |
| Damstra Holdings | DTC | Offer closes Oct 10, due to list Oct 18 | Workplace management software | $49.3m | 90c |
| Cronos Australia | CAU | Offer closes Oct 25, due to list Nov 11 | Medicinal cannabis | $20m | 50c |
