Just 11 new companies hit the ASX in 2020 but their average performance is even better than 2019’s debutantes.
In 2020, COVID-19 caused an IPO drought but the stocks that listed before the pandemic and in recent weeks as markets regained confidence have done really well for themselves.
The average ASX IPO in 2020 is up 58 per cent since listing.
Here are all of the ASX’s IPOs in 2020 (excluding demergers & reverse takeovers):
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| Effective Date | Code | Company | Offer Size ($M) | Offer Price | Last Price | Offer To Date |
|---|---|---|---|---|---|---|
| 01/24/2020 | COS | COSOL Ltd | 12 | 0.2 | 0.7 | 250 |
| 01/31/2020 | CBE | Cobre Ltd | 10 | 0.2 | 0.15 | -25 |
| 02/12/2020 | EMD | Emerald Clinics | 6 | 0.2 | 0.045 | -78.5 |
| 02/14/2020 | TDY | Thedocyard Ltd | 4 | 0.2 | 0.19 | -5 |
| 02/20/2020 | LGP | Little Green Pharma Ltd | 10 | 0.45 | 0.34 | -25 |
| 02/28/2020 | KAU | Kaiser Reef Ltd | 4.5 | 0.2 | 0.35 | 75 |
| 04/16/2020 | AT1 | Atomo Diagnostics Ltd | 30 | 0.2 | 0.35 | 75 |
| 04/20/2020 | AL3 | AML3D Ltd | 9 | 0.2 | 0.255 | 25 |
| 05/25/2020 | ICR | Intelicare Holdings Ltd | 5.5 | 0.2 | 0.37 | 85 |
| 07/14/2020 | MKR | Manuka Resources Ltd | 7 | 0.2 | 0.545 | 173 |
| 7/24/2020 | ARX | Aroa Biosurgery | 45 | 0.75 | 1.41 | 88 |
The top performers
Of this years’ new listees, two are in technology, three are in resources, one is in the industrial space and the remainder are health stocks.
The top performers are software platform COSOL (ASX:COS) and gold and silver producer Manuka Resources (ASX:MKR) which are up 270 per cent and 195 per cent respectively since listing.
2020’s cannabis debutantes Emerald Clinics (ASX:EMD) and Little Green Pharma (ASX:LGP) have both dropped since listing.
Meanwhile, biotech Aroa Biosurgery (ASX:ARX), COVID-19 test kit maker Atomo Diagnostics (ASX:AT1) and health tech stock Intelicare (ASX:ICR) have headed north since listing.
A growing sector on the ASX is additive manufacturing. The sector’s newest listee, AML3D (ASX:AL3), has witnessed a 25 per cent gain since listing in April.
Who’s still to list in 2020?
While 2020’s final tally of IPOs may not match 2019, there will be more to list in the coming months.
A significant number are fintechs and include San Diego-based Zebit and New Zealand-based Laybuy and Plexure Group.
Plexure is already listed on the New Zealand Exchange (NZX) and is looking to follow in the path of Xero (ASX:XRO). Xero listed first on the NZX in 2007, then dual listed on the ASX in 2012 at under $5 and is now over $90.
Plexure is backed by fast food giant McDonalds, which uses its mobile engagement software and has a 9.9 per cent stake in the company.
In the health space, lung imaging software company 4DMedical is set to hit the bourse before the end of August. The company has already received the green light from the Food and Drug Administration to sell into the US.
Health food play Forbidden Foods is aiming to list in the next few weeks, and is currently undertaking an IPO roadshow.
For investors wanting an IPO with exposure to the resources sector, the closest candidate is Dynamic Drill & Blasting, which is a Perth-based mining services play looking to list in August.
This story has updated to clarify the exclusion of demergers and reverse takeovers.