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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Date Code Issuer Name Offer Size ($M) Offer Price Price (25 June) Offer To Date (%) Industry Sector
13-Feb UWL Uniti Wireless Ltd 9.5 0.25 1.54 516 Technology
18-Apr NXS Next Science Ltd 24.6 1 4 300 Health
29-Jan SPT Splitit Payments Ltd 8.6 0.2 0.66 230 Technology
29-Mar EOF Ecofibre Ltd 14.1 1 2.05 105 Consumer
21-Jun VGI VGI Partners Ltd 52.1 5.5 11.2 104 Financial
22-Feb MPH Mediland Pharm Ltd 9.1 0.2 0.32 55 Consumer
14-Jun 2BE Tubi Pty Ltd 4.0 0.2 0.31 50 Industrial
12-Jun PBH PointsBet Holdings Ltd 51.8 2 2.4 26 Consumer
7-May MRZ Mont Royal Resources Ltd 3.5 0.2 0.26 22 Mining
14-Jun VOL Victory Offices Ltd 20.7 2 2.24 15 Financial
28-May IAP Investec Australia Property Fund 71.3 1.32 1.46 10 Financial
17-Apr RDY Readytech Holdings Ltd 35.5 1.51 1.57 4 Technology
29-Apr MOT MCP Income Opportunities Trust 215.2 2 2.05 4 Financial
14-May PCI Perpetual Credit Income Trust 310.1 1.1 1.125 2 Financial
30-Apr PE1 Pengana Private Equity Trust 112.4 1.25 1.25 1 Financial
17-Jun RF1 Regal Investment Fund 200.9 2.5 2.48 -1 Financial
7-Mar CBY Canterbury Resources Ltd 4.4 0.3 0.25 -17 Mining
11-Jun PGL Prospa Group Ltd 83.1 3.78 3.63 -4 Financial
7-Jun VVA Viva Leisure Ltd 14.0 1 0.9 -6 Consumer
6-Jun PKS PKS Holdings Ltd 11.6 0.2 0.195 -8 Technology
19-Jun WSP Whispir Ltd 32.6 1.6 1.52 -8 Technology
23-May PWL Powerwrap Ltd 12.5 0.35 0.3 -14 Financial
10-May 360 Life360 3.9 4.79 3.9 -19 Technology
14-Feb A1G African Gold Ltd 3.3 0.2 0.155 -25 Mining

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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