January is typically a quieter month for deal-flow in Australian markets.
But since January 16 there’s still been three new IPOs, and as at close of trade yesterday none of them had face-planted since joining the ASX boards. Incredible.
Leading the pack was Cosol (ASX:COS), which raised $12m from investors at 20 cents a pop and listed on Friday.
The IT provider offers software services to mining companies and energy utilities, to help customers run their capital-intensive assets more efficiently.
Cosol is looking to continue to trend of outperformance among listed Australian tech companies, as the ASX makes a concerted pivot to foster more activity in the sector.
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Also listing last week was Happy Valley Nutrition (ASX:HVM), which operates in another sector closely watched by investors; infant-formula nutrition.
The stock fell to 13 cents on debut last Thursday — a sharp decline from its 20-cent listing price.
But in what’s been a fairly volatile start to listed life, the company clawed back gains before jumping by around 30 per cent yesterday as markets returned from holiday.
HVM said it plans to operate a B2B commercial model, with product derived from its commercial plant based in New Zealand’s Waikato region.
And kicking off the year on January 16 was biotech stock Nyrada (ASX:NYR), which raised $8.5m from investors — also at 20 cents.
The US-based company is primarily focused on the development of two drugs — a cholesterol-lowering pill for people who don’t respond to statin medications, and a treatment for stroke and traumatic brain injury.
By close of trade yesterday the stock had climbed to 25 cents, for an early gain of 25 per cent. Here’s a chart performance summary of the three stocks to-date:
Looking ahead, another 11 companies have announced plans to list in the not-too-distant future.
Of those, more than half (six) ply their trade in mineral exploration, with the bulk of those in gold and precious metals exploration.
Here’s a list of upcoming IPOs:
Scroll or swipe to reveal table. Click headings to sort.
Company | ASX Code | Expected listing date | Industry | Issue price | Fund raising ($M) |
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ARMnet | AR1 | 26/02/2020 | IT/software (financial services) | 0.2 | 11 |
Castile Resources | CST | 29/01/2020 | Copper-gold explorer | 0.2 | 20 |
Emerald Clinics | EMD | 07/02/2020 | Healthcare | 0.2 | 8 |
Kaiser Reef | KAU | 27/02/2020 | Gold explorer | 0.2 | 4.5 |
Little Green Pharma | LGP | 07/02/2020 | Medicinal cannabis | 0.45 | 10 |
Metal Hawk | MHK | TBA | Nickel-gold explorer | 0.2 | 5.5 |
Nemex Resources | NXR | TBA | Mineral explorer - gold and base metals | 0.2 | 5 |
Nicheliving Holdings | NLH | TBA | Residential property developer | 0.5 | 12 |
Tartana Resources | TNA | TBA | Copper-zinc explorer | 0.2 | 6 |
thedocyard | TDY | 14/02/2020 | Cloud-based transaction software | 0.2 | 5 |
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