IPO Watch: ASX floats continue to struggle as shares sink below issues prices
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Newly-listed ASX stocks are struggling to make headway, with two thirds having lost ground since debut.
Even the highly anticipated $3 billion coal play Coronado (ASX:CRN) has failed to impress, not yet trading above its $4 IPO price.
Coronado — the biggest coal mining float since Yancoal Australia’s $1.5 billion listing in 2012 — claims to be the fifth biggest metallurgical (or coking) coal producer globally in 2017.
Metallurgical coal is a low-ash, low-sulphur and low-phosphorus coal that can be used to produce high-grade coking coal – an essential part of the steelmaking process.
But even the positive outlook for metallurgical coal demand has not helped stop Coronado losing nearly 18 per cent since it lit up the boards in October.
Fewer than 30 per cent of the 120 or so companies that have listed in the past year are trading above their issue prices.
>> Scroll down for a list of ASX IPOs from the past year or so, showing how they’ve performed since their debut
Kiwi soil tech business CropLogic (ASX:CLI) is still at the bottom of the list since its debut in September last year, wiping off nearly 87 per cent to trade at 2.7c.
Online share registry venture Registry Direct (ASX:RD1) has also failed to impress, sliding nearly 85 per cent to 3.1c.
Registry Direct targets public listed and unlisted companies, in a bid to nibble away at the market share of industry behemoths Computershare and Link Market Services.
The company’s chairman, Donald McLay, recently sold down his stake by a little over 2 per cent, pocketing $105,000 from the off-market sale.
Platinum explorer Podium Minerals (ASX:POD) and gold explorer Riversgold (ASX:RGL) have both tumbled around 62 per cent to trade at 7.5c and 7.6c respectively.
Podium, which listed in February, recently delivered a maiden resource for its Parks Reef project, but the news failed to excite investors.
The project hosts 340,000 ounces of combined platinum, palladium and gold, 14,300 tonnes of copper, and 11,400 tonnes of nickel.
Riversgold listed in October last year and is exploring for gold in Australia and Alaska.
Cyber security company WhiteHawk (ASX:WHK) is also struggling to gain traction despite recently being named the US government’s new cyber risk consultant.
WhiteHawk’s share price has dived 59 per cent to 8.2c since it listed in January.
The company is a cloud-based cyber security exchange platform that offers virtual consultations.
Business software maker Cape Range (ASX:CAG) is still the top performing IPO, becoming a 10-bagger 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 $2.06.
3D printer Titomic (ASX:TTT) is also still enjoying massive gains, having advanced nearly 840 per cent since its debut in September last year.
Titomic listed after a $6.5m 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 $1.88.
China-focused retailer AuMake International (ASX:AU8) has rallied 250 per cent since its October 2017 debut.
AuMake posted increased sales and profit for the September quarter ahead of its launch into the milk formula market, expected later this year.
The company booked $10.1m in sales, up 43 per cent on the June quarter, and made gross profit of $1.8m, up 63pc on June’s $1.1m.
AuMake was last trading at about 28c.
Tando Resources (ASX:TNO), meanwhile, has advanced 167 per cent (it recently underwent a 4.62-for-1 share split) and is trading at about 11.5c.
The company, which made its ASX debut in November last year, is advancing its SPD project in South Africa towards a maiden JORC resource.
JORC refers to the mining industry’s official code for reporting exploration results, mineral resources and ore reserves, managed by the Australasian Joint Ore Reserves Committee.
Vanadium prices recently hit their highest point since 2005, punching through the $US20 ($27.73) per pound mark in September and have since rocketed past $US30 per pound — a 300 per cent increase just this year.
Gold play Saturn Metals (ASX:STN) is ahead 30 per cent since it lit up the boards and is trading around 26c.
Saturn, which was spun out of NSW-focused base metals explorer Peel Mining (ASX:PEX), listed in March after raising $7m in a heavily oversubscribed IPO.
The company is working to deliver a resource upgrade for its Apollo Hill gold project near Leonora in Western Australia.
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|ASX code||Company||Return on IPO price||Price Nov 6 (intraday)||IPO issue price||Market Cap||Listing date|
|CAG||CAPE RANGE||9.3||2.06||0.2||171.5M||Nov 30, 2017|
|TTT||TITOMIC||8.375||1.875||0.2||239.7M||Sep 21, 2017|
|MCA||MURRAY COD AUSTR||2.6||0.18||0.05||68.8M||Jan 30, 2017|
|AU8||AUMAKE INTERNATI||2.5||0.28||0.08||76.0M||Oct 5, 2017|
|ADT||ADRIATIC MET||2.15||0.63||0.2||81.7M||May 1, 2018|
|TNO||TANDO RESOURCES||1.67441860465||0.115||0.043||22.3M||Nov 3, 2017|
|SMX||SECURITY MATTERS||1.625||0.525||0.2||48.8M||Oct 2018|
|KTD||KEYTONE DAIRY CO||1.525||0.505||0.2||67.5M||Jul 18, 2018|
|PPE||PEOPLE INFRASTRU||1.04||2.04||1||131.3M||Nov 22, 2017|
|EXL||ELIXINOL GLOBAL||1.03||2.03||1||239.1M||Jan 8, 2018|
|NWL||NETWEALTH GROUP||0.951351351351||7.22||3.7||1.7B||Nov 20, 2017|
|AGH||ALTHEA GROUP HOL||0.9||0.38||0.2||77.3M||Sep 21, 2018|
|CPV||CLEARVUE TECHNOL||0.825||0.365||0.2||32.6M||May 25, 2018|
|5GN||5G NETWORKS||0.7||0.425||0.25||22.7M||Nov 17, 2017|
|MRL||MAYUR RESOURCES||0.675||0.67||0.4||100.6M||Sep 21, 2017|
|RCL||READCLOUD||0.55||0.31||0.2||27.1M||Feb 7, 2018|
|EM2||EAGLE MOUNTAIN M||0.5||0.3||0.2||27.8M||Mar 16, 2018|
|CXL||CALIX||0.490566037736||0.79||0.53||97.1M||Jul 20, 2018|
|GAS||STATE GAS||0.45||0.29||0.2||33.7M||Oct 10, 2017|
|S66||STAR COMBO PHARM||0.35||0.675||0.5||53.7M||May 16, 2018|
|PYG||PAYGROUP||0.3||0.65||0.5||33.6M||May 29, 2018|
|STN||SATURN METALS||0.3||0.26||0.2||14.6M||Mar 9, 2018|
|TLX||TELIX PHARMA||0.276923076923||0.83||0.65||171.9M||Nov 15, 2017|
|CR1||CONSTELLATION RE||0.25||0.25||0.2||8.4M||Jul 30, 2018|
|WGN||WAGNERS HOLDING||0.228782287823||3.33||2.71||545.4M||Dec 8, 2017|
|PVS||PIVOTAL SYST-CDI||0.193548387097||2.22||1.86||246.4M||Jul 2, 2018|
|ROO||ROOTS SUSTAI-CDI||0.15||0.23||0.2||14.4M||Dec 7, 2017|
|HLA||HEALTHIA||0.15||1.15||1||72.5M||Sep 11, 2018|
|RCW||RIGHTCROWD||0.116666666667||0.335||0.3||45.9M||Sep 18, 2017|
|STG||STRAKER||0.0993377483444||1.66||1.51||87.3M||Oct 22, 2018|
|TGO||TRIMANTIUM GROWT||0.08||1.08||1||120.0M||Mar 16, 2018|
|CWX||CARAWINE RESOURC||0.075||0.215||0.2||12.0M||Dec 14, 2018|
|KRX||KOPPAR RESOURCES||0.05||0.21||0.2||6.5M||May 30, 2018|
|SCT||SCOUT SECURITY L||0.05||0.21||0.2||22.8M||Aug 25, 2017|
|OKR||OKAPI RESOURCES||0||0.2||0.2||6.9M||Sep 28, 2017|
|PKD||PARKD||0||0.2||0.2||16.2M||Dec 6, 2017|
|SP3||SPECTUR||0||0.2||0.2||11.5M||Aug 1, 2017|
|TMR||TEMPUS RESOURCES||0||0.2||0.2||7.3M||Aug 15, 2018|
|PGX||PRIMERO GROUP||-0.0125||0.395||0.4||59.0M||Jul 9, 2018|
|PFP||PROPEL FUNERAL P||-0.0222222222222||2.64||2.7||260.1M||Nov 23, 2017|
|ID8||IDENTITII||-0.0266666666667||0.73||0.75||23.2M||Oct 17, 2018|
|NTD||NATIONAL TYRE &||-0.03||0.97||1||99.6M||Dec 15, 2017|
|BAH||BOJUN AGRICULTUR||-0.0333333333333||0.29||0.3||35.2M||Dec 1, 2017|
|NEW||NEW ENERGY SOLAR||-0.0466666666667||1.43||1.5||497.1M||Dec 4, 2017|
|BC8||BLACK CAT SYNDIC||-0.05||0.19||0.2||11.5M||Jan 30, 2018|
|NES||NELSON RESOURCES||-0.05||0.19||0.2||7.8M||Dec 7, 2017|
|DBF||DUXTON BROADACRE||-0.0666666666667||1.4||1.5||60.4M||Feb 8, 2018|
|ARN||ALDORO RESOURCES||-0.075||0.185||0.2||6.4M||Sep 11, 2018|
|SEC||SPHERIA EMERGING||-0.1||1.8||2||119.1M||Dec 5, 2017|
|QEM||QEM||-0.1||0.18||0.2||6.3M||Oct 19, 2018|
|A1C||AIC RESOURCES||-0.1||0.18||0.2||13.5M||Dec 1, 2017|
|DXN||DATA EXCHANGE NE||-0.1||0.18||0.2||29.2M||Apr 11, 2018|
|IXU||IXUP||-0.125||0.175||0.2||28.5M||Nov 15, 2017|
|GAL||GALILEO MINING L||-0.15||0.17||0.2||20.5M||May 29, 2018|
|RHY||RHYTHM BIOSCIENC||-0.15||0.17||0.2||17.6M||Dec 7, 2017|
|TIN||TNT MINES||-0.15||0.17||0.2||5.2M||Nov 3, 2017|
|WWG||WISEWAY LOGISTICS||-0.16||0.42||0.5||52M||Oct 31, 2018|
|JLG||JOHNS LYNG GROUP||-0.16||0.84||1||186.4M||Oct 26, 2017|
|RMY||RMA GLOBAL||-0.16||0.21||0.25||75.4M||Jul 5, 2018|
|VEA||VIVA ENERGY GROU||-0.164||2.09||2.5||4.0B||Jul 13, 2018|
|14D||1414 DEGREES||-0.171428571429||0.29||0.35||48.3M||Sep 21, 2018|
|BGT||BIO-GENE TECH||-0.175||0.165||0.2||21.7M||Nov 29, 2017|
|NSB||NEUROSCIENTIFIC||-0.175||0.165||0.2||12.1M||Jul 27, 2018|
|CRM||CORONADO||-0.1775||3.29||4||3B||Oct 23, 2018|
|JAY||JAYRIDE GROUP||-0.2||0.4||0.5||30.3M||Jan 29, 2018|
|SLZ||SULTAN RESOURCES||-0.2||0.16||0.2||5.1M||Aug 16, 2018|
|AS1||ANGEL SEAFOOD HO||-0.225||0.155||0.2||19.5M||Feb 21, 2018|
|CP1||CANNPAL ANIMAL||-0.225||0.155||0.2||14.4M||Oct 25, 2017|
|EMN||EURO MANGANE-CDI||-0.230769230769||0.2||0.26||35.8M||Oct 2018|
|JMS||JUPITER MINES||-0.2375||0.305||0.4||597.5M||Apr, 2018|
|AR9||ARCHTIS||-0.25||0.15||0.2||18.5M||Sep 21, 2018|
|KWR||KINGWEST RESOURC||-0.25||0.15||0.2||7.6M||Aug 24, 2018|
|RFR||RAFAELLA RESOURCES||-0.25||0.15||0.2||4M||Jul 26, 2018|
|VEN||VINTAGE ENERGY||-0.25||0.15||0.2||39.6M||Sep 17, 2018|
|ED1||EVANS DIXON||-0.26||1.85||2.5||422.6M||May 14, 2018|
|CRD||CREDIBLE LAB||-0.272727272727||0.88||1.21||229.3M||Dec 8, 2017|
|ABR||AMERICAN PAC||-0.3||0.14||0.2||26.6M||Jul 28, 2017|
|BCB||BOWEN COKING COA||-0.304347826087||0.016||0.023||9.2M||Oct 10, 2017|
|B2Y||BOUNTY MINING||-0.342857142857||0.23||0.35||90.5M||Jun 19, 2018|
|BDG||BLACK DRAGON GOL||-0.35||0.13||0.2||14.4M||Aug 29, 2018|
|PRZ||PARAZERO||-0.35||0.13||0.2||11.4M||Jun 18, 2018|
|WOA||WIDE OPEN AGRICU||-0.375||0.125||0.2||8.8M||Jul 6, 2018|
|OGA||OCEAN GROWN ABAL||-0.38||0.155||0.25||27.0M||Nov 14, 2017|
|LRM||LUSTRUM MINERALS||-0.4||0.12||0.2||4.2M||Nov 15, 2017|
|MKG||MAKO GOLD||-0.4||0.12||0.2||7.6M||Apr 16, 2018|
|VN8||VONEX||-0.4||0.12||0.2||17.7M||Jun 13, 2018|
|CG1||CARBONXT GROUP||-0.414285714286||0.41||0.7||33.4M||Jan 23, 2018|
|WND||WINDLAB||-0.4275||1.145||2||87.9M||Aug 23, 2017|
|SIL||SMILES INCLUSIVE||-0.43||0.57||1||38.8M||Apr 27, 2018|
|P2P||P2P TRANSPORT||-0.431818181818||0.75||1.32||62.4M||Dec 13, 2017|
|MMM||MARLEY SPOON||-0.443661971831||0.79||1.42||91.4M||Jul 2, 2018|
|TAO||TAO COMMODITIES||-0.45||0.11||0.2||3.4M||Apr 16, 2018|
|KSS||KLEOS SPACE SA||-0.475||0.105||0.2||10.3M||Aug 24, 2018|
|SIS||SIMBLE SOLUTIONS||-0.475||0.105||0.2||11.9M||Feb 22, 2018|
|AX8||ACCELERATE RESOU||-0.5||0.1||0.2||4.7M||Feb 14, 2018|
|CM1||COOLGARDIE MINER||-0.5||0.1||0.2||12.4M||Aug 30, 2018|
|IHR||INTELLIHR HOLDIN||-0.5||0.15||0.3||15.8M||Jan 23, 2018|
|BYH||BRYAH RESOURCES||-0.505||0.099||0.2||5.6M||Oct 17, 2017|
|N27||NORTHERN COBALT||-0.505||0.099||0.2||4.6M||Sep 22, 2017|
|BEM||BLACKEARTH MINER||-0.515||0.097||0.2||5.9M||Jan 2018|
|WML||WOOMERA MINING L||-0.515||0.097||0.2||10.9M||Mar 5, 2018|
|NUS||NUSANTARA RESOUR||-0.52380952381||0.2||0.42||24.6M||Aug 2, 2017|
|CY5||CYGNUS GOLD||-0.535||0.093||0.2||5.6M||Jan 15, 2018|
|GO2||GO2 PEOPLE||-0.54||0.092||0.2||10.9M||Oct 31, 2017|
|SWF||SELFWEALTH||-0.55||0.09||0.2||11.7M||Nov 23, 2017|
|SDX||SIENNA CANCER||-0.575||0.085||0.2||22.7M||Aug 3, 2017|
|NC6||NANOLLOSE||-0.59||0.082||0.2||6.1M||Oct 16, 2017|
|WHK||WHITEHAWK||-0.59||0.082||0.2||6.7M||Jan 24, 2018|
|RGL||RIVERSGOLD||-0.62||0.076||0.2||6.7M||Oct 10, 2017|
|POD||PODIUM MINERALS||-0.625||0.075||0.2||7.2M||Feb 28, 2018|
|RZI||RAIZ INVEST||-0.627777777778||0.67||1.8||43.7M||Jun 21, 2018|
|TIE||TIETTO MINERALS||-0.645||0.071||0.2||15.8M||Jan 18, 2018|
|CCG||COMMSCHOICE GROU||-0.68||0.08||0.25||8.7M||Dec 21, 2017|
|EN1||ENGAGE:BDR||-0.735||0.053||0.2||15.1M||Dec 14, 2017|
|FDX||FRONTIER DIAMOND||-0.78||0.044||0.2||10.3M||Jan 5, 2018|
|RD1||REGISTRY DIRECT||-0.845||0.031||0.2||4.0M||Nov 1, 2017|
|CLI||CROPLOGIC||-0.865||0.027||0.2||3.3M||Sep 12, 2017|
Perth-based gold and lithium explorer Golden State Mining is set to ring the bell on Thursday, November 8 at 2pm AEDT.
The company announced on Tuesday it had been admitted to the “Official List” after raising around $4.6 million in its IPO.
EMvision Medical Devices has launched an IPO to raise up to $6m via the issue of shares at 25c each.
The company is developing medical imaging technology that utilises electromagnetic microwave energy to create images of the human brain and other organs.
Once its IPO is completed, which is penned in for November 14, EMvision will acquire the intellectual property to develop and commercialise the technology.
The company’s initial focus is neurological conditions, specifically stroke care due to the clinical need and potentially large commercial opportunity.
EMvision is aiming to list by the end of November under the ticker “EMV”.
Gold and copper play Norwest Minerals, which is aiming for a November 29 debut, just needs to get its spread of retail investors and looks set to close its IPO earlier than the mid-November deadline.
The company, which was spun out of battery metals-focused Australian Mines (ASX:AUZ), has already got its quota of institutional investors for its $6.6m IPO, which is being managed by Terrain Capital.
“It’s scheduled to close on the 15th of November, but I think we’re likely to close early with the rate at which subscribers are coming on to get the spread that we need,” Terrain Capital director Dominic Marinelli told Stockhead recently.
Cowan Lithium has extended the closing date of its $8m IPO until November 8 and is aiming to list by November 21.
The Perth-based company, which was spun out of Tawana Resources (ASX:TAW) earlier this year, has two main lithium projects, Cowan and Yallari, in the Eastern Goldfields of Western Australia plus an iron ore project in Liberia.
Perth-based gold and base metals explorer Caprice Resources is also delayed in making its ASX debut.
The company had been targeting a September listing on the back of $4.5m IPO, but has pushed the expected date to November 20.
Caprice has two projects in the Northern Territory and Western Australia.
Titanium Sands has raised the $6.6m it was targeting to relist on the ASX.
The explorer has been trying to relist since early April.
Earlier this year, Titanium Sands struck a deal to acquire Srinel Holdings Limited, which owns a high-grade ilmenite-leucoxene project on Mannar Island in northwest Sri Lanka.
Ilmenite is the main source of titanium dioxide (TiO2), which is used in paints, fabrics, plastics, paper, sunscreen, food and cosmetics.
Leucoxene is a fine, granular alteration product of titanium minerals. Although it is not a recognised mineral species, the name leucoxene has been applied to products with a TiO2 titanium content ranging from 70 per cent to 93 per cent.
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; due to list Nov 30||Coking coal||$6m||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||Listing date extended to Nov 22||Copper, gold||$7.8m||30c|
|Caprice Resources||CRS||Listing date extended to Nov 20||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|
|Cowan Lithium||COW||Spin-off from Tawana; Now due to list Nov 21||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|
|EMvision Medical Devices||EMV||Due to list Nov 30||Develops and commercialises medical imaging technology.||$6m||25c|
|Expose Resources||-||Raising seed capital; aiming to list this year||Gold||$500k||10c|
|Fiji Kava||FIJ||Due to list Nov 29||Therapeutic goods company||$5.2m||20c|
|Frugl||Pre-IPO funding; planning listing||Grocery price comparison||tba||-|
|Golden State Mining||GSM||Offer closed; Due to list Nov 8||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|
|HeraMED||HMD||Offer closes Nov 16; Due to list Dec 4||At-home pregnancy monitoring tech start-up||$6m||20c|
|International Cobalt Resources||ICR||Offer closes Oct 11; Due to list Oct 22||Cobalt, nickel, gold||$5-6m||30c|
|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|
|Moho Resources||MOH||Was due to list Sep 29||Gold, nickel, copper||$4.5-6m||20c|
|Montem Resources||MR1||Offer extended to Nov 21; Now due to list Dec 4||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|
|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||-|
|Power Asia Limited||P88||Offer extended||Renewable energy||$9m||20c|
|Prospa||PGL||Postponed||Small business loans||$146m||3.64|
|Rolek Resources||RLK||Backdoor listing via Shaw River (ASX:SRR); Listing scheduled for late December||Manganese||$5m||2c|
|Rong Yu Pharma||RY8||Delayed||Traditional Chinese Medicine||$14-20m||20c|
|Secure2Go Group||S2G||Postponed indefinitely||Cyber security||$4-5m||30c|
|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|
|Tartana Resources||-||IPO suspended due to ASIC query||Zinc, copper||$5-6m||-|
|Trigg Mining||TMG||Postponed indefinitely||Potash||$4-6m||-|
|Tymlez Group||TYM||Due to list Dec 7||Blockchain||$8m||22c|
|Universal Biosecurity||UBL||Delayed||Safe pest control||$5m||20c|
|XS Resources||XS1||Due to list Nov 29||Precious, base metals||$4.5m||20c|
|Yandal Resources||YRL||IPO due to close Dec 3; Due to list Dec 19||Gold||$5m||20c|
|Zaige Waste Management||ZGZ||Delayed||China-based recycling||$14-20m||0.2|