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
|Company||ASX code||IPO status||Focus||Fund raising||Issue price|
|3G Coal||3GC||Offer open Oct 3 to Nov 9||Coking coal||$6m||20c|
|Althea||AGH||Offer open, due to list Sep 21||Cannabis||$19.7m||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||Due to list Oct 31||Copper, gold||$7.8m||30c|
|Caprice Resources||CRS||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 open Aug 30 to Sep 27; listing Oct 8||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|
|Frugl||Pre-IPO funding; planning listing||Grocery price comparison||tba||-|
|Golden State Mining||GSM||Offer open Sep 3-28; listing 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||Offer open Aug 16-31; listing due Sep 19||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||Due to list Sep 29||Gold, nickel, copper||$4.5-6m||20c|
|Montem Resources||MR1||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|
|Nice-Vend||Due to list Oct 2||Slushy machines||$7.5m||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|