ASX IPOs have so far raised $7bn this year – more than double last year’s haul
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In the first nine months of the year 74 ASX IPOs raised $6.6 billion – more than double the $3 billion raised from 80 IPOs in the same period last year.
The September quarter was by far the busiest, with 27 IPOs raising $3.8 billion, the ASX’s general manager of listings Max Cunningham told Stockhead.
“With Viva Energy in the last quarter, we had the largest IPO since Medibank,” Mr Cunningham said.
“Our internal pipeline correlates closely with what you would read in the media regarding resources and financials IPOs between now and year-end, and we remain optimistic this will be a solid quarter.”
Security Matters (ASX:SMX) is Australia’s newest stock — listing on Monday following a $6 million oversubscribed IPO.
The brand protection, supply chain integrity and blockchain technology company has traded as high as a 7.5 per cent premium to its 20c issue price.
The year’s top performers
Here’s a list of 100-plus ASX IPOs from the past year or so, showing how they’ve performed since their debut
Swipe or scroll to reveal full table. Click headings to sort
|ASX code||Company||Change since IPO||Price Oct 16 (intraday)||Issue price||Market Cap|
|AGH||ALTHEA GROUP HOL||1.6||0.52||0.2||105.7M|
|KTD||KEYTONE DAIRY CO||1.275||0.455||0.2||72.0M|
|EM2||EAGLE MOUNTAIN M||0.8||0.36||0.2||33.3M|
|S66||STAR COMBO PHARM||0.46||0.73||0.5||58.9M|
|SCT||SCOUT SECURITY L||0.15||0.23||0.2||24.9M|
|VEN||VINTAGE ENERGY L||0.025||0.205||0.2||54.8M|
|PFP||PROPEL FUNERAL P||0.0222222222222||2.76||2.7||269.0M|
|BC8||BLACK CAT SYNDIC||0||0.2||0.2||11.5M|
|GAL||GALILEO MINING L||-0.05||0.19||0.2||21.7M|
|NEW||NEW ENERGY SOLAR||-0.06||1.41||1.5||498.4M|
|DXN||DATA EXCHANGE NE||-0.15||0.17||0.2||31.9M|
|JLG||JOHNS LYNG GROUP||-0.15||0.85||1||188.6M|
|VEA||VIVA ENERGY GROU||-0.158||2.105||2.5||4.2B|
|AS1||ANGEL SEAFOOD HO||-0.225||0.155||0.2||18.9M|
|BDG||BLACK DRAGON GOL||-0.225||0.155||0.2||11.7M|
|WOA||WIDE OPEN AGRICU||-0.25||0.15||0.2||10.6M|
|BCB||BOWEN COKING COA||-0.304347826087||0.016||0.023||8.6M|
|OGA||OCEAN GROWN ABAL||-0.42||0.145||0.25||24.4M|
|KSS||KLEOS SPACE SA||-0.425||0.115||0.2||12.3M|
|WML||WOOMERA MINING L||-0.525||0.095||0.2||10.7M|
3D printer Titomic (ASX:TTT) is the best performing IPO, gaining 623 per cent to trade at $1.53.
The company listed after a $6.5 million IPO with a vision to build the world’s biggest and fastest metal 3D printer. It launched that printer in Melbourne in May.
Pot stock Althea (ASX:AGH) has advanced 160 per cent since its debut in September.
The company raised $19.6 million in its over-subscribed IPO.
Of the resources players, base metals explorer Adriatic Metals (ASX:ADT) has done pretty well, more than doubling its share price to 40c since listing.
Eagle Mountain Mining (ASX:EM2) has added 80 per cent to trade at 36c.
The explorer hit the ASX in mid-March after completing a $12.5 million raising to fund its hunt for gold and copper in the US.
Down, down… prices are down
Kiwi soil tech business CropLogic (ASX:CLI) hasn’t had a good run, wiping off 89 per cent to become a penny stock.
Ad agency Engage:BDR (ASX:EN1) down 70 per cent since its IPO to 6c.
In September, the company said revenue targets for acquisition target AdCel were “not realistically achievable” and therefore a $US1 million cash incentive was “extremely unlikely to ever be required to be payable”.
In May, the agency said it was buying US startup AdCel for $US4.5 million ($6.3 million).
Of this sum, $US1 million was to be paid in cash and the rest in stock priced at 22c — a figure Engage:BDR’s shares last reached in January.
West African gold explorer Tietto Minerals (ASX:TIE), meanwhile, has slid 65 per cent to 7c since it listed in January.
Which IPOs are next in line to make an ASX debut
Here’s a list of more than 50 upcoming IPOs:
Swipe or scroll to reveal full table. Click headings to sort
|Company||ASX code||IPO status||Focus||Fund raising||Issue price|
|3G Coal||3GC||Offer open Oct 3 to Nov 9; due to list Nov 30||Coking coal||$6m||20c|
|AMD Resources||ADM||Cancelled||Gold, silver||$22m||50c|
|Andes Resources||-||Planning IPO this year; prospectus not yet lodged||Gold||$3-5m||-|
|archTIS||AR9||Delayed; was due to list Aug 27||Data security||$8-10m||20c|
|Biomics Biopharma||BBM||Delayed multiple times||China-based biotech||$13-16m||20c|
|Candy Club||-||In pre-IPO rounds; considering float||Subscription confectionary||unknown||-|
|Canterbury Resources||CBY||Was due to list Oct 31||Copper, gold||$7.8m||30c|
|Caprice Resources||CRS||Was due to list Sep 26||Gold, base metals||$4.5m||20c|
|Carnaby Resources||-||Prospectus not yet issued||Gold||unknown||-|
|Centaur Resources||CR3||Offer open Oct 4-25. Listing due Nov 6||Lithium and other battery metals||$15m||20c|
|China Track||CTC||Delayed; was due to list Jun 11||Bulldozer parts||$32-40m||80c|
|Coronado Coal||CRN||Due to list Oct 29||Coking coal||$1.4bn||$4 to $4.80|
|Cowan Lithium||COW||Spin-off from Tawana. Offer extended until Oct 25; now due to list Nov 5||Lithium||$6-8m||20c|
|EcoMag||-||Postponed until later in 2018||Magnesium||$3-5m||20c|
|Eden Health||ETK||Was due to list Jul 11||Kiwi fruit-focused AgTech||$15.6-20m||20c|
|Expose Resources||-||Raising seed capital; aiming to list this year||Gold||$500k||10c|
|Frugl||Pre-IPO funding; planning listing||Grocery price comparison||tba||-|
|Golden State Mining||GSM||Offer closed; was due to list Oct 12||Gold||$4.5-5.5m||20c|
|Haixi Pharma||HXP||Delayed multiple times||China-based, pain relief biotech||$25-30m||50c|
|Hao Xian Yang||-||-||Beef, mutton and vegetarian meat||$1-1.5m||20c|
|Healthia||Was due to list on Sep 11||Podiatry||$26.8m||$1|
|International Cobalt Resources||ICR||Offer closes Oct 11; Due to list Oct 22||Cobalt, nickel, gold||$5-6m||30c|
|Identitii||ID8||Listing Oct 17||Blockchain||$11m||75c|
|Jobstore Group||JOB||Offer closes Nov 13; due to list Dec 5||AI-powered recruitment||$6.6-8m||20c|
|Kaiyun Holdings||-||Closing Oct 15; due to list Oct 29 on NSX||China-focused copper and gold||$3-4m||20c|
|Fiji Kava||-||Due to list in October||Kava producer||$5.2m||20c|
|Moho Resources||MOH||Was due to list Sep 29||Gold, nickel, copper||$4.5-6m||20c|
|Montem Resources||MR1||Was due to list Sep 27||Canada-focused coking coal||$15-20m||50c|
|Nanoveu||NVU||Offer closes Oct 19; Due to list Nov 1||3D image technology||$4.5-6m||20c|
|Neuroscientific Biopharma||NSB||Was due to list in July||Alzheimer’s||$5-6m||20c|
|Nicheliving||NLH||Extended to Sep 14||Residential developer||$5-12m||50c|
|Norwest Minerals||NWM||Spin-off from Australian Mines (ASX:AUZ) due to list Oct 29||Gold and base metals||$6.6m||20c|
|Ocean Guardian||OCG||Cancelled||Shark deterrent||$5m||-|
|PINCHme||PIN||Offer closes Oct 5; Due to list Oct 16||Data gathering||$8m||50c|
|Power Asia Limited||P88||Offer extended||Renewable energy||$9m||20c|
|Prospa||PGL||Postponed||small business loans||$146m||3.64|
|QEM||QEM||Closes Sep 10; was due to list Sep 20||Vanadium||$5m||20c|
|Rolek Resources||RLK||Backdoor listing via Shaw River (ASX:SRR)||Manganese||$5m||2c|
|Rong Yu Pharma||RY8||Delayed||Traditional Chinese Medicine||$14-20m||20c|
|Secure2Go Group||S2G||Postponed indefinitely||Cyber security||$4-5m||30c|
|Security Matters||SMX||Was due to list Sep 18||Blockchain||$5-6.5m||20c|
|Shekel Brainweigh||-||Offer due to close Oct 12; Due to list Oct 26||Weighing technologies||$10.15m||35c|
|Stealth Global||SGI||Due to list Sep 19||Workplace product distributor||$12.5m||20c|
|Straker||STG||Offer open until Oct 11||Translation software||$21.2m||$1.51|
|Tartana Resources||-||IPO suspended due to ASIC query||Zinc, copper||$5-6m||-|
|Trigg Mining||TMG||Postponed indefinitely||Potash||$4-6m||-|
|Universal Biosecurity||UBL||Delayed||Safe pest control||$5m||20c|
|XS Resources||XS1||Due to list Nov 29||Precious, base metals||$4.5m||20c|
|Zaige Waste Management||ZGZ||Delayed||China-based recycling||$14-20m||0.2|
Fintech Identitii will be the first ASX blockchain float in two years when it makes its debut today.
The company will start trading at 11am AEST after raising $11 million in its IPO.
Identitii will join Kyckr (ASX:KYK) as the ASX’s only other blockchain IPO, launched back in September 2016.
Both companies follow similar strategies of making blockchain-based technology that checks the bonafides of businesses involved in financial transactions.
Blockchain first hit the spotlight a few years ago as the technology used to underpin transactions in cryptocurrencies such as bitcoin. But it’s increasingly seen as having broader applications such as securing online data.
Vanadium and oil shale play QEM will start trading this Friday at 10.30am AEDT after closing its $5 million IPO oversubscribed.
QEM plans to use the newly raised cash to advance exploration at its Julia Creek project in Queensland, where it is targeting vanadium and oil shale prospects in the Toolebuc Formation.
The Toolebuc Formation has been described as one of the world’s largest deposits of vanadium and shale oil.
Copper and gold explorer Canterbury Resources was aiming for an October 31 debut, but has stretched that to November 7.
The company expects to now close its $7.8 million IPO priced at 30c per share on October 26.
Meanwhile, at-home pregnancy monitoring tech start-up HeraMED has launched an IPO to raise up to $6 million at 20c per share.
HeraMED says it has developed the first medical-grade smart foetal heartbeat monitoring system that has a smartphone interface.
The company is undertaking the IPO so it can expand the distribution of its HeraBEAT product and fund the next generation of foetal heartbeat monitoring solutions.
The offer opens October 23 and closes November 16. HeraMED has penned in December 4 as its expected listing date.
Battery metals explorer Metalicity (ASX:MCT) is getting closer to listing its spin-out company, Kimberley Mining, on Canada’s TSX Venture Exchange.
Kimberley Mining holds Metalicity’s zinc projects in Western Australia.
The company has completed the second tranche of its $C2 million seed raising and is aiming to list on the TSX-V in the December quarter.
Meanwhile, there have been several hold-ups of Aussie floats.
Cowan Lithium was due to light up the boards on October 8, but has extended the closing date of its $8 million IPO until October 25.
It now expects to make its debut on November 5.
Cowan was spun out of Tawana Resources (ASX:TAW) earlier this year and launched an IPO to raise $8 million selling shares at 20c each.
The Perth-based company has two main lithium projects, Cowan and Yallari, in the Eastern Goldfields of Western Australia plus an iron ore project in Liberia.
Norwest Minerals has also extended the closing date of its $6.6 million IPO and is now aiming for a November 29 debut.
The company was spun out of Australian Mines (ASX:AUZ) with its WA gold and base metals projects in July and was initially hoping to be listed by October 29.
Perth-based gold and lithium explorer Golden State Mining reached its $4.5 million IPO target late last week, managing director Mike Moore told Stockhead.
“We are working hard at the moment and the target is a listing next week,” he said.
PINCHme, a website that sends out free samples in return for reviews and personal data, was expecting to list on Tuesday, but is yet to light up the boards.
The New York-based company launched an $8 million IPO in September to help drive membership growth.
Started in Australia in 2012 by former hedge fund manager Jeremy Reid, PINCHme “intelligently matches” consumer brands with PINCHme members who have provided “comprehensive personal data about themselves and spending habits”.
Members (who have to live in the US) receive free samples which they are then asked to rate.
Israeli slushy-machine maker Nice-Vend has dropped its ASX listing. The company was hoping to list on October 2 following a $7.5 million IPO.