IPO Watch: 11 new ASX listings in April, but Pentanet still has the crown in 2021
A total of 11 IPO stocks made their debut on the ASX in April, taking the total to 34 listings this year.
The week was headlined by the listing of automotive dealer company, Peter Warren Automotive (ASX:PWR). Investors were keen to see how the dealer would be priced in the open market, after some good results during the COVID-19 slowdown.
And Peter Warren didn’t disappoint. Its share price rose by 19 per cent on debut, closing at $3.46 after listing at $2.90 in a $260 million IPO.
The biggest newcomer for the month, and the year for that matter, is the $2.6 billion listing of financials company, Latitude Financial (ASX:LFS). Latitude offers personal loans and credit cards, as well as insurance and digital payment products. It claims to have 2.77 million customer accounts and over 3,400 merchant customers.
Interestingly, LFS is eyeing a play in the BNPL segment, with its platform LatitudePay. The company raised $200 million in the IPO round, and the stock price is currently around 4 per cent below its listing price of $2.60 after rising by 15 per cent on debut.
The Adelaide-based company claims to be the the largest independent game developer in Australia. It was founded in 2010 and has released over 50 games that have been downloaded over 50 million times. The MKL share price is down by 20 per cent to 24c, after listing at 30c a share.
Market favourite Airtasker (ASX:ART) has continued its momentum since listing, having recently announced a solid quarter that has beaten prospectus forecast. The Airtasker share price has doubled from its listing price to change hands today at $1.30.
But the biggest winner so far in 2021 has been the telecom company, Pentanet (ASX:5GG). Pentanet’s share price is now at $1.08, having risen by more than 340 per cent since raising $22.5 million and floating its shares at 25c back in January.
Pentanet was the first company to bring GeForce NOW to Australia. GeForce NOW, which now has over 35,00 subscribers in the country, is essentially a streaming library of computer games developed by American tech multinational, NVIDIA, that allows people to play games over the internet.
The company has had s storng quarter, recently reporting a 112 per cent increase in quarterly receipts to $2.9 million. It also secured a 15-year licence for high-band 5G spectrum in 26 GHz ACMA auction during the quarter, which will enable it to accelerate its 5G internet offering in Perth.
Recuitment tech company Hiremii (ASX:HMI) will be an interesting addition to the ASX bourse. The company uses AI technology, which will differentiate its offering from competitors.