ECS Botanics (ASX:ECS) lit up the ASX boards on Monday reaching almost double its recent offer price before closing the session out 62.5 per cent higher.

The agribusiness and hemp food company backdoor listed into tech shell Axxis Technology and raised $6.5m at 4c per share in an oversubscribed capital raising.

It witnessed heavy trading on its first day, with over 62 million shares changing hands – taking the stock price as high as 7.7c on Monday.

ECS was still trading at a 55 per cent premium on Tuesday afternoon, with over 19 million shares traded.

The company started in February last year, four months after industrial hemp was legalised in Australia.

Hemp is a low-THC variety of the cannabis plant. Depending on state laws, farmers are allowed to harvest the seeds of the plant and the stem fibre as well, but they do need a licence.

ECS recently concluded its maiden hemp harvest from its Tasmanian operations and planted a crop in Queensland, where it leases land, which is expected to be harvested in August.

The company has Tasmanian licences to grow, supply and manufacture industrial hemp for non-therapeutic commercial purposes and research, and a grower licence in Queensland.

It’s also applied for cultivation and manufacturing medical cannabis licences, but says if they are granted it’d be a side hustle rather than the main business.

ECS said its focus now is to advance sales, develop new products and optimise its supply Chain.

“Hemp is a high value agribusiness opportunity with the potential for substantial future growth,” chairman David McCredie said.

Here’s a performance rundown of this year’s ASX entrants:

Scroll or swipe to reveal table. Click headings to sort.

Listing Date ASX Code Company Offer Price Price July 23 (Intra-Day) % Return
02/13/2019 UWL Uniti Wireless 0.25 1.505 5.02
04/18/2019 NXS Next Science 1 3.83 2.83
01/29/2019 SPT Splitit Payments 0.2 0.6 2
03/29/2019 EOF Ecofibre 1 2.88 1.88
06/21/2019 VGI VGI Partners 5.5 12 1.18181818182
07/05/2019 IXC Invex Therapeutics 0.4 0.76 0.9
07/11/2019 QFE QuickFee 0.2 0.365 0.825
06/14/2019 2BE Tubi Limited 0.2 0.33 0.65
02/22/2019 MPH Mediland Pharm 0.2 0.325 0.625
06/12/2019 PBH PointsBet Holdings 2 2.98 0.49
07/22/2019 ECS ECS Botanics 0.04 0.062 0.55
05/07/2019 MRZ Mont Royal Resources 0.2 0.26 0.3
05/28/2019 IAP Investec stralia Property Fund 1.32 1.47 0.113636363636
04/30/2019 PE1 Pengana Private Equity Trust 1.25 1.39 0.112
04/17/2019 RDY Readytech Holdings 1.51 1.655 0.0960264900662
05/14/2019 PCI Perpetual Credit Income Trust 1.1 1.16 0.0545454545455
06/06/2019 PKS PKS Holdings 0.2 0.21 0.05
04/29/2019 MOT MCP Income Opportunities Trust 2 2.06 0.03
06/17/2019 RF1 Regal Investment Fund 2.5 2.53 0.012
06/14/2019 VOL Victory Offices 2 2.01 0.005
03/07/2019 CBY Canterbury Resources 0.3 0.29 -0.0333333333333
06/19/2019 WSP Whispir 1.6 1.45 -0.09375
06/07/2019 VVA Viva Leisure 1 0.89 -0.11
05/23/2019 PWL Powerwrap 0.35 0.3 -0.142857142857
02/14/2019 A1G African Gold 0.2 0.155 -0.225
02/19/2019 CLB Candy Club Holdings 0.2 0.075 -0.625

Around 77 per cent of this year’s ASX entrants have made gains of between 0.5 per cent and 502 per cent.

Wireless internet provider Uniti Wireless (ASX:UWL) again tops the list with a 502 per cent gain since it listed in February.

Bacteria-killing biotech Next Science (ASX:NXS) is still ahead 283 per cent, while buy now, pay later stock Splitit (ASX:SPT) edged back up to third spot with a 200 per cent gain since its debut in January.

Cannabis company Ecofibre (ASX:EOF) is up 188 per cent since its March listing.

Floats sinking 

However, new listings are on the decline, with the ASX reporting 111 for FY19 compared to 137 for FY18.

De-listings, meanwhile, are up nearly 40 per cent year-over-year to 127 in FY19.

Here’s a list of upcoming IPOs:

Scroll or swipe to reveal table. Click headings to sort.

Company ASX code IPO status Focus Fund raising Issue price
AppsVillage Australia APV Due to list July 23 Software-as-a-Service company $6m 20c
Australian Nutrition & Sports AN1 Withdrawn Dairy formula $5-$8m 20c
Nemex Resources NXR Due to list July 24 Gold and base metals exploration $5m 20c
Sezzle SZL Offer closes July 12; Due to list July 30 Payment platform $43.6m $1.22
SRJ Technologies Seed raising; Targeting listing in Q4 2019 Pipe repair and replacement products $5m
Tartana Resources TNA Offer closes July 26; Due to list Aug 13 Copper and zinc exploration $6m 20c
Trigg Mining TMG Offer extended to July 12; Due to list July 24 Potash $4.5m 20c

Australian Nutrition & Sports (ASX:AN1) has dropped its IPO plans after corporate regulator ASIC issued an interim stop notice in April.

The Victoria-based company markets milk formula for kids aged 12 months and under and adults over 50, as well as a range of protein products including powder, shakes, bars and something called “rapid energy gels”.

Software as a service player AppsVillage (ASX:APV) was supposed to make its debut on Tuesday, but it has not yet been admitted to the “Official List”.

Gold explorer Nemex Resources (ASX:NXR) was tentatively penned in to list today but is keeping its IPO open to August 9 now.

Potash explorer Trigg Mining (ASX:TMG) was also expected to list today, but yesterday it released a supplementary prospectus extending its IPO until August 26 and its proposed listing to September 9.

That makes buy now, pay later company Sezzle (ASX:SZL) next cab off the rank, with its expected debut next Tuesday.