After a quiet start to 2019, the IPO market has begun to boom. There have been 24 ASX IPOs and they have collectively gained 56 per cent on a percentage return basis.

Collectively their market caps at IPO were $3.9 billion but now they stand at $6.6 billion – representing $2.7 billion in value created and a jump of 69 per cent.

The solid year for IPOs is stunning considering the slow start to the market. Only one IPO occurred in January and only another three in February. Even as the market gradually picked up, it was dominated by fintech Splitit (ASX: SPT) which surged as high as $2.

But while profit takers and a capital raise have dislodged Splitit from the top, a series listings in June and the blooming of Next Science (ASX: NXS) and Uniti Wireless (ASX: UWL) have strengthened and diversified the market.

Uniti Wireless (ASX: UWL) wants to be an alternative to the NBN. It is up 516 per cent this year and if you’d invested $951,560.92, like Vaughan Bowen did, you’d have several million dollars – $3.7 million to be exact as of this morning.

Uniti’s offer was led by Bell Potter which has been the top rainmaker in the small cap markets.

Next Science (ASX: NXS) is a bacteria-fighting biotech that produces products from acne gel administered at home to sterile lavage used in surgery. After being founded in 2012, it listed in April at $1 per share and now sits at $4.

Despite the slump in recent weeks, Splitit is still well up on its IPO price. At 66 cents, it has gained 230 per cent.

Two other IPOs have gained over 100 per cent – pot stock Ecofibre (ASX: EOF) and financial firm VGI Partners (ASX: VGI).

Mining stocks

However, 2019 has still been a quiet year for mining stocks. Only three stocks have listed this year and only one is up.

WA focused gold explorer Mont Royal Resources (ASX: MRZ) hit the board in May and subsequently has gained 23 per cent. The catalyst has been survey results which have confirmed recently defined targets could be on the right path.

Two companies listed earlier, Canterbury Resources (ASX: CBY) and African Gold (ASX: A1G) and they have lost 17 per cent and 25 per cent respectively.

Here’s a list of 2019’s IPOs…

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DateCodeIssuer NameOffer Size ($M)Offer PricePrice (25 June)Offer To Date (%)Industry Sector
13-FebUWL Uniti Wireless Ltd9.50.251.54516Technology
18-AprNXS Next Science Ltd24.614300Health
29-JanSPT Splitit Payments Ltd8.60.20.66230Technology
29-MarEOF Ecofibre Ltd14.112.05105Consumer
21-JunVGI VGI Partners Ltd52.15.511.2104Financial
22-FebMPH Mediland Pharm Ltd9.10.20.3255Consumer
14-Jun2BE Tubi Pty Ltd4.00.20.3150Industrial
12-JunPBH PointsBet Holdings Ltd51.822.426Consumer
7-MayMRZ Mont Royal Resources Ltd3.50.20.2622Mining
14-JunVOL Victory Offices Ltd20.722.2415Financial
28-MayIAP Investec Australia Property Fund71.31.321.4610Financial
17-AprRDY Readytech Holdings Ltd35.51.511.574Technology
29-AprMOT MCP Income Opportunities Trust215.222.054Financial
14-MayPCI Perpetual Credit Income Trust310.11.11.1252Financial
30-AprPE1 Pengana Private Equity Trust112.41.251.251Financial
17-JunRF1 Regal Investment Fund200.92.52.48-1Financial
7-MarCBY Canterbury Resources Ltd4.40.30.25-17Mining
11-JunPGL Prospa Group Ltd83.13.783.63-4Financial
7-JunVVA Viva Leisure Ltd14.010.9-6Consumer
6-JunPKS PKS Holdings Ltd11.60.20.195-8Technology
19-JunWSP Whispir Ltd32.61.61.52-8Technology
23-MayPWL Powerwrap Ltd12.50.350.3-14Financial
14-FebA1G African Gold Ltd3.30.20.155-25Mining

Upcoming IPOs

There will be at least four IPOs in the next month. Potash play Trigg Mining (ASX: TMG) will list on Friday and professional fee financier QuickFree (ASX: QFE) next Wednesday (July 3).

Later in the month gold miner Nemex Resources (ASX: NXR) and Software as a Service stock Apps Village (ASX: APV) will follow.

An earlier version of this story listed the 56 per cent return without specific context and the gain in their collective market capitalisations, which suggested an incorrect calculation. The 56 per cent figure alluded to the average percentage gain of the share prices rather than the gains in their market capitalisation – which is indeed 69 per cent. 

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