IPO Watch: ASX floats are on the rise and these are the top performers
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The ASX had a busier-than-usual third quarter for IPOs — recording an increase in float activity compared to the prior quarter and the same period last year.
In the September quarter there were 28 IPOs raising $US2.4 billion ($3.3 billion), according to consultancy EY.
IPO volume in the third quarter was much higher than the previous quarter and significantly higher than the same quarter of 2017.
But, the year-to-date volume was lower than last year.
In the first nine months of the year, there were 63 IPOs accounting for about $US4 billion. For all of 2017 there were 96 IPOs.
“In a normally quiet quarter, Asia-Pacific experienced some exciting IPO activity, led by Greater China and Australia,” EY Asia-Pacific IPO leader Ringo Choi said.
“Geopolitical uncertainties, ongoing trade tensions and the potential impact of the interest rate cycle are propelling companies, particularly in greater China, to get their IPOs to the public markets faster in an effort to take advantage of current valuations.”
Best performing IPOs over the past year
While IPO activity may be on the rise, unfortunately not all that have made their debut in the past year have done so well.
Only about a third of recent ASX entrants have gained ground since listing.
Here’s a list of 110 ASX IPOs from the past year or so, showing how they’ve performed since their debut:
Swipe or scroll to reveal full table. Click headings to sort
|ASX code||Company||Price change since listing||Price Oct 2 (intraday)||Issue price||Listing date||Market Cap|
|CAG||CAPE RANGE||6.95||1.59||0.2||Nov 30, 2017||129.7M|
|TTT||TITOMIC||6.925||1.585||0.2||Sep 21, 2017||105.1M|
|AU8||AUMAKE||3||0.32||0.08||Oct 5, 2017||85.5M|
|MCA||MURRAY COD||2.4||0.17||0.05||Jan 30, 2017||68.8M|
|TNO||TANDO RESOURCES||2.25581395349||0.14||0.043||Nov 3, 2017||26.1M|
|KTD||KEYTONE DAIRY||2.175||0.635||0.2||Jul 18, 2018||96.8M|
|AGH||ALTHEA||1.85||0.57||0.2||Sep 21, 2018||116.9M|
|CPV||CLEARVUE TECH||1.725||0.545||0.2||May 25, 2018||52.3M|
|ADT||ADRIATIC METALS||1.3||0.46||0.2||May 1, 2018||62.8M|
|PPE||PEOPLE INFRASTRUCTURE||1.16||2.16||1||Nov 22, 2017||139.7M|
|NWL||NETWEALTH||1.15540540541||7.975||3.7||Nov 20, 2017||1.9B|
|EXL||ELIXINOL GLOBAL||0.98||1.98||1||Jan 8, 2018||205.9M|
|5GN||5G NETWORKS||0.96||0.49||0.25||Nov 17, 2017||23.7M|
|RCL||READCLOUD||0.925||0.385||0.2||Feb 7, 2018||33.7M|
|EM2||EAGLE MOUNTAIN||0.775||0.355||0.2||Mar 16, 2018||29.6M|
|MRL||MAYUR RES||0.75||0.7||0.4||Sep 21, 2017||107.4M|
|S66||STAR COMBO PHARMA||0.74||0.87||0.5||May 16, 2018||70.8M|
|WGN||WAGNERS||0.623616236162||4.4||2.71||Dec 8, 2017||710.1M|
|PVS||PIVOTAL SYSTEMS||0.58064516129||2.94||1.86||Jul 2, 2018||316.3M|
|ROO||ROOTS SUSTAINABLE||0.5||0.3||0.2||Dec 7, 2017||18.6M|
|PYG||PAYGROUP||0.44||0.72||0.5||May 29, 2018||38.2M|
|CXL||CALIX||0.415094339623||0.75||0.53||Jul 20, 2018||92.2M|
|CR1||CONSTELLATION RESOURCES||0.4||0.28||0.2||Jul 30, 2018||9.8M|
|RCW||RIGHTCROWD||0.333333333333||0.4||0.3||Sep 18, 2017||53.3M|
|SCT||SCOUT SECURITY||0.325||0.265||0.2||Aug 25, 2017||27.6M|
|TMR||TEMPUS RESOURCES||0.3||0.26||0.2||Aug 15, 2018||174.1M|
|TLX||TELIX PHARMA||0.253846153846||0.815||0.65||Nov 15, 2017||9.7M|
|STN||SATURN METALS||0.25||0.25||0.2||Mar 9, 2018||14.0M|
|SP3||SPECTUR||0.225||0.245||0.2||Aug 1, 2017||12.8M|
|VEN||VINTAGE ENERGY||0.225||0.245||0.2||Sep 17, 2018||64.1M|
|HLA||HEALTHIA||0.22||1.22||1||Sep 11, 2018||75.6M|
|CWX||CARAWINE RES||0.2||0.24||0.2||Dec 14, 2018||13.4M|
|KRX||KOPPAR RESOURCES||0.175||0.235||0.2||May 30, 2018||7.5M|
|NTD||NATIONAL TYRE||0.17||1.17||1||Dec 15, 2017||119.7M|
|TGO||TRIMANTIUM GROWTHOPS||0.11||1.11||1||Mar 16, 2018||123.3M|
|GAL||GALILEO MINING||0.075||0.215||0.2||May 29, 2018||25.9M|
|PFP||PROPEL FUNERAL||0.0333333333333||2.79||2.7||Nov 23, 2017||272.9M|
|PGX||PRIMERO GROUP||0.025||0.41||0.4||Jul 9, 2018||62.0M|
|14D||1414 DEGREES||0||0.35||0.35||Sep 12, 2018||63.8M|
|ARN||ALDORO RES||0||0.2||0.2||Sep 11, 2018||6.9M|
|DBF||DUXTON BROADACRE||0||1.5||1.5||Feb 8, 2018||64.7M|
|IXU||IXUP||0||0.2||0.2||Nov 15, 2017||31.7M|
|SIL||SMILES INCLUSIVE||-0.025||0.975||1||Apr 27, 2018||57.4M|
|SLZ||SULTAN RESOURCES||-0.025||0.195||0.2||Aug 16, 2018||6.2M|
|BAH||BOJUN AGRICULTURE||-0.0333333333333||0.29||0.3||Dec 1, 2017||35.2M|
|NEW||NEW ENERGY SOLAR||-0.0366666666667||1.445||1.5||Dec 4, 2017||505.4M|
|RMY||RMA GLOBAL||-0.04||0.24||0.25||Jul 5, 2018||88.3M|
|OKR||OKAPI RESOURCES||-0.05||0.19||0.2||Sep 28, 2017||6.9M|
|SEC||SPHERIA EMERGING||-0.0525||1.895||2||Dec 5, 2017||123.4M|
|DXN||DATA EXCHANGE||-0.075||0.185||0.2||Apr 11, 2018||32.8M|
|G1A||GALENA MINING||-0.075||0.185||0.2||Sep 7, 2017||62.3M|
|TIN||TNT MINES||-0.075||0.185||0.2||Nov 3, 2017||5.8M|
|BC8||BLACK CAT||-0.1||0.18||0.2||Jan 30, 2018||10.0M|
|KWR||KINGWEST RESOURCES||-0.1||0.18||0.2||Aug 24, 2018||8.9M|
|VEA||VIVA ENERGY||-0.102||2.245||2.5||Jul 13, 2018||4.4B|
|B2Y||BOUNTY MINING||-0.114285714286||0.31||0.35||Jun 19, 2018||105.2M|
|JLG||JOHNS LYNG GROUP||-0.12||0.88||1||Oct 26, 2017||195.3M|
|A1C||AIC RESOURCES||-0.15||0.17||0.2||Dec 1, 2017||12.8M|
|JMS||JUPITER MINES||-0.15||0.34||0.4||Apr, 2018||666.1M|
|PRZ||PARAZERO||-0.15||0.17||0.2||Jun 18, 2018||14.9M|
|PKD||PARKD||-0.15||0.17||0.2||Dec 6, 2017||12.8M|
|RFR||RAFAELLA RES||-0.15||0.17||0.2||Jul 26, 2018||$5M|
|GAS||STATE GAS||-0.15||0.17||0.2||Oct 10, 2017||22.9M|
|CRD||CREDIBLE LABS||-0.173553719008||1||1.21||Dec 8, 2017||263.5M|
|CG1||CARBONXT GROUP||-0.185714285714||0.57||0.7||Jan 23, 2018||42.0M|
|ED1||EVANS DIXON||-0.188||2.03||2.5||May 14, 2018||463.7M|
|JAY||JAYRIDE GROUP||-0.2||0.4||0.5||Jan 29, 2018||31.0M|
|CP1||CANNPAL ANIMAL||-0.2||0.16||0.2||Oct 25, 2017||14.9M|
|NSB||NEUROSCIENTIFIC BIOPHARMA||-0.2||0.16||0.2||Jul 27, 2018||11.8M|
|TAO||TAO COMMODITIES||-0.2||0.16||0.2||Apr 16, 2018||4.9M|
|WND||WINDLAB||-0.225||1.55||2||Aug 23, 2017||103.1M|
|BDG||BLACK DRAGON||-0.225||0.155||0.2||Aug 29, 2018||12.9M|
|ABR||AMERICAN PACIFIC||-0.25||0.15||0.2||Jul 28, 2017||29.5M|
|AS1||ANGEL SEAFOOD||-0.25||0.15||0.2||Feb 21, 2018||18.9M|
|AR9||archTIS||-0.25||0.15||0.2||Sep 21, 2018||20.3M|
|RHY||RHYTHM BIOSCIENCES||-0.25||0.15||0.2||Dec 7, 2017||15.1M|
|WOA||WIDE OPEN AGRICULTURE||-0.25||0.15||0.2||Jul 6, 2018||10.6M|
|MMM||MARLEY SPOON||-0.260563380282||1.05||1.42||Jul 2, 2018||$121M|
|NES||NELSON RESOURCES||-0.275||0.145||0.2||Dec 7, 2017||6.9M|
|SIS||SIMBLE SOLUTIONS||-0.275||0.145||0.2||Feb 22, 2018||15.5M|
|OGA||OCEAN GROWN ABALONE||-0.28||0.18||0.25||Nov 14, 2017||31.3M|
|BCB||BOWEN COKING COAL (RTO)||-0.304347826087||0.016||0.023||Oct 10, 2017||9.2M|
|BEM||BLACKEARTH||-0.325||0.135||0.2||Jan, 19 2018||8.2M|
|LRM||LUSTRUM MINERALS||-0.325||0.135||0.2||Nov 15, 2017||4.8M|
|IHR||INTELLIHR||-0.333333333333||0.2||0.3||Jan 23, 2018||20.9M|
|BGT||BIO-GENE TECH||-0.375||0.125||0.2||Nov 29, 2017||16.6M|
|MKG||MAKO GOLD||-0.375||0.125||0.2||Apr 16, 2018||7.9M|
|N27||NORTHERN COBALT||-0.375||0.125||0.2||Sep 22, 2017||6.4M|
|KSS||KLEOS SPACE||-0.4||0.12||0.2||Aug 24, 2018||14.4M|
|VN8||VONEX||-0.4||0.12||0.2||Jun 13, 2018||18.4M|
|P2P||P2P TRANSPORT||-0.405303030303||0.785||1.32||Dec 13, 2017||65.7M|
|RZI||RAIZ INVEST||-0.444444444444||1||1.8||Jun 21, 2018||66.2M|
|AX8||ACCELERATE RES||-0.45||0.11||0.2||Feb 14, 2018||5.2M|
|NC6||NANOLLOSE||-0.45||0.11||0.2||Oct 16, 2017||8.2M|
|BYH||BRYAH RESOURCES||-0.475||0.105||0.2||Oct 17, 2017||5.9M|
|CM1||COOLGARDIE MINERALS||-0.475||0.105||0.2||Aug 30, 2018||10.9M|
|SWF||SELFWEALTH||-0.505||0.099||0.2||Nov 23, 2017||12.8M|
|CCG||COMMSCHOICE||-0.52||0.12||0.25||Dec 21, 2017||13.1M|
|GO2||GO2 PEOPLE||-0.525||0.095||0.2||Oct 31, 2017||11.2M|
|RGL||RIVERSGOLD||-0.55||0.09||0.2||Oct 10, 2017||7.5M|
|TIE||TIETTO MINERALS||-0.565||0.087||0.2||Jan 18, 2018||18.9M|
|CY5||CYGNUS GOLD||-0.57||0.086||0.2||Jan 15, 2018||5.3M|
|NUS||NUSANTARA RESOURES||-0.571428571429||0.18||0.42||Aug 2, 2017||22.2M|
|SDX||SIENNA CANCER||-0.575||0.085||0.2||Aug 3, 2017||22.7M|
|WML||WOOMERA MINING||-0.605||0.079||0.2||Mar 5, 2018||8.9M|
|EN1||ENGAGE:BDR||-0.705||0.059||0.2||Dec 14, 2017||16.8M|
|POD||PODIUM MINERALS||-0.74||0.052||0.2||Feb 28, 2018||5.0M|
|WHK||WHITEHAWK||-0.78||0.044||0.2||Jan 24, 2018||3.3M|
|FDX||FRONTIER DIAMOND||-0.805||0.039||0.2||Jan 5, 2018||8.9M|
|CLI||CROPLOGIC||-0.875||0.025||0.2||Sep 12, 2017||3.2M|
|RD1||REGISTRY DIRECT||-0.88||0.024||0.2||Nov 1, 2017||3.1M|
Euro Manganese (ASX:EMN) is the latest explorer to light up the ASX, making its debut on Tuesday at a 25 per cent premium to its 26c issue price.
The company hit an intra-day high of 32.5c on the trade of 470,645 shares worth $139,900.
Euro Manganese is the first to dual list in Australia and Canada at the exact same time.
“What we did here was unprecedented,” chief Marco Romero told Stockhead following its debut on Tuesday.
“No company has ever listed at the same time in Australia and in Canada. This is the first ever dual IPO.”
Euro Manganese’s core business — and current ‘sole focus’ — is the development of its Chvaletice manganese project, in the small town of Chvaletice in the Czech Republic.
Manganese is the fourth-most-traded metal in the world. Only aluminium, iron ore and copper are more widely used.
About 90 per cent of manganese goes into steel-making, but it’s increasingly used in next-generation battery and power storage applications.
Mr Romero predicts there will be a “very significant increase” in demand largely due to the rapid growth in the electric vehicle market.
“Manganese has long been neglected as a battery raw material, which it is very clearly so and has been for a very long time in fact,” he said.
“We have the opportunity to bring to market a strategic alternative or complement to existing production just at a time when there is explosive demand growth emerging, particularly from the automotive industry that is rapidly electrifying all over the world and particularly in Europe.”
Business software maker Cape Range (ASX:CAG) has been by far the best performing IPO, gaining 695 per cent since it listed in late November last year.
After doing nothing following its debut at 20c, the stock suddenly took off at the start of July and landed itself a please explain from the ASX over the sudden share price spike that eventually took it to a new high of $2.25.
It is currently trading at $1.59.
3D printer Titomic (ASX:TTT) is also a seven-bagger since it listed in September last year.
Titomic listed after a $6.5 million IPO with a vision to build the world’s biggest and fastest metal 3D printer.
It launched that printer in Melbourne in May. Titomic was last trading around $1.59 as well.
Telix Pharmaceuticals (ASX:TLX) is up 308 per cent at almost 82c. The company debuted on the ASX last November in what was one of the biggest biotech IPOs in recent times.
Telix is pre-revenue but is bringing to market a late-stage pipeline of cancer drugs and diagnostic products, based on radiopharmaceuticals or molecularly-targeted radiation.
Of the resources players, Tando Resources (ASX:TNO) has advanced 226 per cent (it recently underwent a 4.62-for-1 share split) and is trading at about 14c.
The company, which made its ASX debut in November last year, just completed the acquisition of the SPD vanadium project in South Africa.
Vanadium prices recently hit their highest point since 2005, pushing through the magical $US20/lb ($27.56) mark amid ongoing supply concerns.
Eagle Mountain Mining (ASX:EM2) has also been a top performer with its share price appreciating 77.5 per cent to 35.5c.
The explorer hit the ASX on March 16 after completing a $12.5 million raising to fund its hunt for gold and copper in the US.
Eagle Mountain has accumulated acreage along a 6km outcrop in the so-called Pacific Horizon prospect in Arizona.
Arizona is highly prospective for copper and has traditionally accounted for more than half of all of the copper produced in the US.
Brisbane-based, Papua New Guinea-focused Mayur Resources (ASX:MRL) has climbed 75 per cent since listing a year ago. It is now trading at 70c.
The company recently announced it had short-listed and was issuing tender documents to engineering, procurement and construction contractors for its Moresby lime and cement project – the first project of its kind in PNG.
The Moresby project is expected to produce 250,000 tonnes of quicklime (used in steelmaking) and 1.5 million tonnes of cement.
Which IPOs are next in line to make an ASX debut
Here’s a list of 55 upcoming IPOs:
Swipe or scroll to reveal full table. Click headings to sort
|Company||ASX code||IPO status||Focus||Fund raising||Issue price|
|3G Coal||3GC||Offer open Oct 3 to Nov 9||Coking coal||$6m||20c|
|Althea||AGH||Offer open, due to list Sep 21||Cannabis||$19.7m||20c|
|AMD Resources||ADM||Cancelled||Gold, silver||$22m||50c|
|Andes Resources||-||Planning IPO this year; prospectus not yet lodged||Gold||$3-5m||-|
|archTIS||AR9||Delayed; was due to list Aug 27||Data security||$8-10m||20c|
|Biomics Biopharma||BBM||Delayed multiple times||China-based biotech||$13-16m||20c|
|Candy Club||-||In pre-IPO rounds; considering float||Subscription confectionary||unknown||-|
|Canterbury Resources||CBY||Due to list Oct 31||Copper, gold||$7.8m||30c|
|Caprice Resources||CRS||Due to list Sep 26||Gold, base metals||$4.5m||20c|
|Carnaby Resources||-||Prospectus not yet issued||Gold||unknown||-|
|Centaur Resources||CR3||Offer open Oct 4-25. Listing due Nov 6||Lithium and other battery metals||$15m||20c|
|China Track||CTC||Delayed; was due to list Jun 11||Bulldozer parts||$32-40m||80c|
|Coronado Coal||CRN||Due to list Oct 29||Coking coal||$1.4bn||$4 to $4.80|
|Cowan Lithium||COW||Spin-off from Tawana. Offer open Aug 30 to Sep 27; listing Oct 8||Lithium||$6-8m||20c|
|EcoMag||-||Postponed until later in 2018||Magnesium||$3-5m||20c|
|Eden Health||ETK||Was due to list Jul 11||Kiwi fruit-focused AgTech||$15.6-20m||20c|
|Frugl||Pre-IPO funding; planning listing||Grocery price comparison||tba||-|
|Golden State Mining||GSM||Offer open Sep 3-28; listing Oct 12||Gold||$4.5-5.5m||20c|
|Haixi Pharma||HXP||Delayed multiple times||China-based, pain relief biotech||$25-30m||50c|
|Hao Xian Yang||-||-||Beef, mutton and vegetarian meat||$1-1.5m||20c|
|Healthia||Was due to list on Sep 11||Podiatry||$26.8m||$1|
|International Cobalt Resources||ICR||Offer closes Oct 11; Due to list Oct 22||Cobalt, nickel, gold||$5-6m||30c|
|Identitii||ID8||Offer open Aug 16-31; listing due Sep 19||Blockchain||$11m||75c|
|Jobstore Group||JOB||Offer closes Nov 13; due to list Dec 5||AI-powered recruitment||$6.6-8m||20c|
|Kaiyun Holdings||-||Closing Oct 15; due to list Oct 29 on NSX||China-focused copper and gold||$3-4m||20c|
|Fiji Kava||-||Due to list in October||Kava producer||$5.2m||20c|
|Moho Resources||MOH||Due to list Sep 29||Gold, nickel, copper||$4.5-6m||20c|
|Montem Resources||MR1||Due to list Sep 27||Canada-focused coking coal||$15-20m||50c|
|Nanoveu||NVU||Offer closes Oct 19; Due to list Nov 1||3D image technology||$4.5-6m||20c|
|Neuroscientific Biopharma||NSB||Was due to list in July||Alzheimer’s||$5-6m||20c|
|Nice-Vend||Due to list Oct 2||Slushy machines||$7.5m||20c|
|Nicheliving||NLH||Extended to Sep 14||Residential developer||$5-12m||50c|
|Norwest Minerals||NWM||Spin-off from Australian Mines (ASX:AUZ) due to list Oct 29||Gold and base metals||$6.6m||20c|
|Ocean Guardian||OCG||Cancelled||Shark deterrent||$5m||-|
|PINCHme||PIN||Offer closes Oct 5; Due to list Oct 16||Data gathering||$8m||50c|
|Power Asia Limited||P88||Offer extended||Renewable energy||$9m||20c|
|Prospa||PGL||Postponed||small business loans||$146m||3.64|
|QEM||QEM||Closes Sep 10; was due to list Sep 20||Vanadium||$5m||20c|
|Rolek Resources||RLK||Backdoor listing via Shaw River (ASX:SRR)||Manganese||$5m||2c|
|Rong Yu Pharma||RY8||Delayed||Traditional Chinese Medicine||$14-20m||20c|
|Secure2Go Group||S2G||Postponed indefinitely||Cyber security||$4-5m||30c|
|Security Matters||SMX||Was due to list Sep 18||Blockchain||$5-6.5m||20c|
|Shekel Brainweigh||-||Offer due to close Oct 12; Due to list Oct 26||Weighing technologies||$10.15m||35c|
|Stealth Global||SGI||Due to list Sep 19||Workplace product distributor||$12.5m||20c|
|Straker||STG||Offer open until Oct 11||Translation software||$21.2m||$1.51|
|Tartana Resources||-||IPO suspended due to ASIC query||Zinc, copper||$5-6m||-|
|Trigg Mining||TMG||Postponed indefinitely||Potash||$4-6m||-|
|Universal Biosecurity||UBL||Delayed||Safe pest control||$5m||20c|
|XS Resources||XS1||Due to list Nov 29||Precious, base metals||$4.5m||20c|
|Zaige Waste Management||ZGZ||Delayed||China-based recycling||$14-20m||0.2|
Israeli slushy-machine maker Nice-Vend was due to ring the bell on Tuesday, but is yet to announce it has been admitted to the Official List.
Nice-Vend makes and sells vending machines — branded “quinzee machines” — that make slushies (or frozen soft drinks).
The next cab off the rank is Cowan Lithium, which is penned in for an October 8 listing.
The company was spun out of Tawana Resources (ASX:TAW) earlier this year and launched an IPO to raise $8 million selling shares at 20c each.
The Perth-based company has two main lithium projects, Cowan and Yallari, in the Eastern Goldfields of Western Australia plus an iron ore project in Liberia.
Following Cowan is gold explorer Golden State Mining, which is expecting to list on October 12.
Meanwhile, there have been several hold-ups of floats, largely due to a backlog at the ASX and ASIC issues.
Moho Resources was due to list before the end of September but says it now expects to list at the end of October.
Vanadium and oil shale play QEM was expecting to be listed by September 20, but is now thinking it will make its debut within the next month.
China Track, which makes replacement undercarriage parts for crawler-type of construction equipment, appears to have gone AWOL.
The company had been planning to list at the start of the year but its IPO was delayed.
However, attempts by Stockhead to contact the company were futile, with the company no longer having an active website and its phone number disconnected.