Here’s how 70 ASX IPOs have performed over the past year and what’s floating next
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The Aussie IPO market is looking less than stellar with about 40 per cent of ASX debutantes over the past year ahead or steady — and the other 60 per cent declining according to an analysis by Stockhead.
Scroll down for a table showing the performance of a selection of 70 IPOs over the past year — and a table of 50 upcoming floats.
The best performing float in the past year has been Keytone Dairy (ASX:KTD), which has witnessed a 290 per cent rally in its share price since it listed on July 18.
Keytone is a New Zealand-based, manufacturer and exporter of dairy and nutrition products.
The company debuted following a heavily oversubscribed $12 million IPO priced at 20c and is now trading at around 76.5c.
Solar-powered window maker ClearVue Technologies (ASX:CPV) overcame a wobbly debut in May to go on a stellar run.
The company has added 280 per cent to its 20c issue price to trade at 70c.
ClearVue booked a strong 784 per cent upturn in revenue for the 2018 financial year, making $504,919 compared with just $57,000 a year earlier.
Its technology allows sun going through glass windows to be converted into energy.
At the other end of the scale, South African diamond miner Frontier (ASX:FDX) is down 80 per cent since its May float. Earlier this month Frontier raised $1 million at 4c, compared to its 20c IPO price.
More recently, it’s been a strong start to the financial year for IPOs with $6 billion raised in ASX floats since July.
Nine new listings occurred in August — after raising $605 million — taking the total since July to 25.
That’s 24 per cent more than the same time last year, according to the ASX’s latest monthly report.
Of the resources players, Eagle Mountain Mining (ASX:EM2) has been a top performer with its share price appreciating 72.5 per cent to 34.5c.
The explorer hit the ASX on March 16 after completing a $12.5 million raising to fund its hunt for gold and copper in the US.
Eagle Mountain has accumulated acreage along a 6km outcrop in the so-called Pacific Horizon prospect in Arizona.
Arizona is highly prospective for copper and has traditionally accounted for more than half of all of the copper produced in the US.
Constellation Resources (ASX:CR1), meanwhile, has jumped 35 per cent to 29c after it completed a $7 million IPO.
The company lit up the boards at the end of July trading at a 70 per cent premium to its 20c issue price.
Constellation was spun out of Apollo Minerals (ASX:AON) earlier this year with its Fraser Range nickel, copper and gold projects.
The Fraser Range region in Western Australia shot to fame back in 2012 when Sirius Resources uncovered the Nova-Bollinger nickel, copper and cobalt mine that eventually sold to larger rival Independence Group (ASX:IGO) for $1.8 billion.
Here’s a list of 70 recent IPOs showing how they’ve performed since their debut:
Swipe or scroll to reveal full table. Click headings to sort
A lot of IPOs have faltered before the finish line over the past year.
Out table of 50 upcoming IPOs below shows more than half of planned IPOs have either been delayed, postponed or cancelled.
This week diamond explorer GeoCrystal gave up on its second attempt at trying to become a publicly listed company.
The $7 million IPO has again been shelved after a couple of hiccups — a decade after it first started down the path to an ASX listing.
Five years ago, GeoCrystal discovered a large kimberlite field at the Webb diamond project located in the remote Gibson Desert region of Western Australia.
Kimberlite is a dark-coloured, heavy rock that contains diamonds and is sometimes found in valuable “pipes”.
Stealth Global Holdings was supposed to make its debut today, but appears to have faced delays. It has not yet been admitted to the ASX’s “Official List”.
Stealth is a supplier of safety, industrial, healthcare and workplace consumable products to the resources, transport, infrastructure, engineering, construction, manufacturing, general trade and industrial sectors.
The company launched a $12.5 million raising in early August.
Blockchain fintech Identitii also appears to be facing delays. Identitii launched the first ASX blockchain IPO in two years in August and was aiming to make its debut on Wednesday.
Identitii wants to join Kyckr 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.
Vanadium and oil shale play QEM is due to light up the boards on Thursday after closing its $5 million IPO over-subscribed.
Vanadium is one of the resources firecrackers of the moment, making it the perfect time to launch a new vanadium float.
Director David Fitch told Stockhead QEM’s IPO was 50 per cent over-subscribed — with around $7.6 million worth of applications received.
QEM was founded in 2014 to develop a vanadium and oil shale project in the Julia Creek area of North Western Queensland.
Most of the funds ($2.8 million) will be used to develop the Julia Creek project.
“We’re obviously investigating the technologies that can be used to potentially get those hydrocarbons out and be commercial,” Mr Fitch said.
“If we can get both the oil and the vanadium out well then it makes for a pretty good production play.”
Mr Fitch said QEM wants to get the Julia Creek project into production as quickly as possible.
There are about two dozen IPOs — out of a list of more than 50 in our table — that appear to have a realistic chance of joining the ASX this year.
One of those is International Cobalt Resources which is undertaking an IPO to raise between $5 and $6 million at 30c per share in a bid to hit the ASX by October 22.
The Canada-focused explorer has cobalt, nickel and gold projects in North Eastern Ontario and the exclusive rights to acquire mining tenements within the Ville-Marie area of Western Quebec.
Here’s a list of 50 upcoming IPOs:
Swipe or scroll to reveal full table. Click headings to sort