IPO Watch: Another three companies enter the ASX and light up on debut
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Today another three companies debuted on the ASX and they all gained on debut.
The first of these was Silk Laser (ASX:SLA) which runs skin treatment clinics – 53 of them across all states except Victoria and the ACT.
It is only the second stock in this trade – the other being Wellness & Beauty Solutions (ASX:WNB)
Silk Laser raised $83.5 million at $3.45 per share and commenced trading at 11am (AEDT). Shares saw a modest spike to $3.53.
The company intends to use proceeds to expand its clinic network with a goal of having 150 eventually.
The listing was accompanied with a financial update where it reported cash sales rising 63 per cent in the first five months of FY21 compared to the prior corresponding period and underlying earnings of $9.7 million.
“Our clinics have continued to perform strongly throughout the year and I am confident that with the funds raised we will continue to benefit from this momentum and further accelerate our growth,” said managing director Martin Perelman.
Next up at 11.30am was Akora Resources (ASX:AKO) which is an iron ore junior focused on Madagascar.
The company raised $5 million at 25 cents per share and shares rocketed 86 per cent to 46.5 on debut.
In 2021, Akora will begin a drilling campaign at its Bekisopa project. It has the goal of defining a 100 million tonne JORC resource.
And last but not least (in fact one of the biggest this year) was online banking lending stock Liberty Financial (ASX:LFG).
Liberty’s listing is a long time coming having been founded two decades ago. But over the years it has grown to be Australia’s 10th biggest lender.
The company raised $320.7 million at $6 per share and on debut rose to $6.70 – a 12 per cent gain.