In 2021, more than 180 IPOs gained 14% on average since debut.

While the number of IPOs is 50% more than the previous two years combined, the average gain is much lower. In 2020, IPOs delivered an average 42% gain.

One stock has more than tripled since listing; 19 have gained 100% or more, compared to 12 last year.

After a relatively quiet first few quarters of 2020, the pipeline picked up at the back end of that year and continued into 2021, only slowing down in the week prior to Christmas.

The list of top winners has shifted substantially throughout the year. In the March quarter, medical imaging company Singular Health (ASX:SHG) and Perth telco Pentanet (ASX:5GG) were the hottest stocks.

In the middle of the year, a handful of uranium and battery metal IPOs topped the charts, although many retreated from all time highs as we moved into Spring.

In the last two months of the year, few IPOs set the world on fire but one was engineering service provider RemSense Technologies (ASX:REM) which is still up 123% from its IPO price.

While 2021 saw a record number of stocks with a market capitalisation of $1 billion, most opened below water and haven’t recovered – with 29 Metals (ASX:29M) and Pexa (ASX:PXA) being the exemptions.

 

Here’s how 2021’s ASX IPOs have performed (data excludes reverse takeovers):

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Code Company Listing Price Current Price % Sector
KNI Kuniko 0.2 1.12 460% Resources
GL1 Global Lithium 0.2 0.85 325% Resources
AGN Argenica Theraprutics 0.2 0.795 298% Health
92E 92Energy 0.2 0.64 220% Energy
CHL Camplify 1.42 4.35 206% Tech
DGL DGL Group 1.00 3.00 200% Industrial
AR3 Aust Rare 0.3 0.8775 193% Resources
IR1 Iris Metals 0.2 0.55 175% Resources
A8G Australasian Metals 0.2 0.515 158% Resources
CNR Cannon Resources 0.2 0.495 148% Resources
REM Remsense Technologies 0.2 0.49 145% Tech
TRJ Trajan 1.7 4.01 136% Health
RRR Revolver Resources 0.2 0.45 125% Resources
5GG Pentanet 0.25 0.54 116% Tech
BMM Balkan Mining 0.2 0.43 115% Resources
PGO Pac Gold 0.25 0.535 114% Resources
EV1 Evolution Energy 0.2 0.425 113% Resources
CHR Charger Metals 0.2 0.41 105% Resources
PGD Peregrine Gold 0.2 0.405 103% Resources
Z2U Zoom2u Technologies 0.2 0.405 103% Tech
GT1 Green Technology Metals 0.25 0.48 92% Resources
BST Best & Less 2.16 4.03 87% Consumer
FRB Firebird Metals 0.2 0.37 85% Resources
LIS LIS Energy 0.85 1.44 69% Energy
LYN Lycaon Resources 0.2 0.335 68% Resources
QML Qmines 0.2 0.325 63% Resources
CUS Copper Search 0.2 0.32 60% Resources
WR1 Winsome Resources 0.2 0.315 58% Resources
29M 29Metals 2 2.99 50% Resources
ACL Au Clinical Labs 4 5.91 48% Health
CLG Close Loop 0.2 0.29 45% Industrial
LYK Lykos Minerals 0.2 0.29 45% Resources
M3M M3 Mining 0.2 0.29 45% Resources
SHG Singular Health 0.2 0.29 45% Health
RWL Rubicon Water 1 1.44 44% Industrial
FRS Forrestania Resources 0.2 0.285 43% Resources
LM8 Lunnon Metals 0.3 0.415 38% Resources
SDR SiteMinder 5.06 6.93 37% Tech
VSL Vulcan Steel 7.1 9.72 37% Industrial
NXG Nex Gen Energy 5.6 7.49 34% Energy
ILA Island Pharmaceuticals 0.2 0.265 33% Health
ART Airtasker 0.65 0.855 32% Tech
AQN Aquirian 0.2 0.26 30% Resources
CHM Chimeric Therapeutics 0.2 0.26 30% Health
BBT Bluebet 1.14 1.48 30% Consumer
BCA Black Canyon 0.2 0.25 25% Resources
G50 Gold 50 0.2 0.25 25% Resources
E79 E79Goldmineslimited 0.2 0.2425 21% Resources
BMO Baston Minerals 0.2 0.24 20% Resources
VNT Ventias Services 1.7 2.01 18% Industrial
ATA Atturra 0.5 0.59 18% Tech
MI6 Minerals260Limited 0.5 0.59 18% Resources
SSH SSH Group 0.2 0.235 18% Industrial
SHA Shape Aust Corp 1.96 2.3 17% Consumer
WIN Widgie Nickel 0.2 0.2325 16% Resources
NOL Nobleoak Life 1.95 2.25 15% Financial
TMB Tambourah Metals 0.2 0.23 15% Resource
TRU Truscreen 0.065 0.074 14% Health
PEX Pexa 17.13 19.42 13% Tech
HCW Health & Wellness REIT 2 2.23 12% Property
SLH Silk Logistics 2 2.23 12% Industrial
BDT Birddog 0.65 0.71 9% Tech
NIM Nimy Resources 0.2 0.215 7% Resources
EZZ EZZ Life Science 0.5 0.535 7% Consumer
ALV Alvo Minerals 0.3 0.32 7% Resources
HPC The Hydration 0.29 0.305 5% Health
AM7 Arcadia Minerals 0.2 0.21 5% Resources
BUR Burley Minerals 0.2 0.21 5% Resources
DEL Delorean 0.2 0.21 5% Energy
E33 East 33 0.2 0.21 5% Consumer
MM8 Medallion Metals 0.2 0.21 5% Resources
MMG Monger Gold 0.2 0.21 5% Resources
MPA Mad Paws 0.2 0.21 5% Tech
SMS Star Minerals 0.2 0.21 5% Resources
STP Step One 1.53 1.585 4% Consumer
FLX Felix Group 0.3 0.31 3% Tech
1VG Victory Goldfields 0.2 0.205 2% Resources
ALB Albion Resources 0.2 0.205 2% Resources
PNT Panthers Metals 0.2 0.205 2% Resources
XPN Xpon Technologies 0.2 0.205 2% Tech
RTH Ras Tech 1.5 1.535 2% Tech
JDO Judo 2.1 2.13 1% Financial
PWR Peter Warren 2.9 2.93 1% Consumer
EQN Equinex Resources 0.2 0.2 0% Resources
M24 Mamba Exploration 0.2 0.2 0% Resources
PBL Parabellum Resources 0.2 0.2 0% Resources
PFE Pantera Minerals 0.2 0.2 0% Resources
NPR Newmark Property 1.895 1.88 -1% Property
DDH DDH Drill 1.1 1.09 -1% Industrial
WAR WAM Strategic Value 1.25 1.23 -2% Financial
AE1 Aerison 0.2 0.195 -3% Industrial
AS2 Askari Metals 0.2 0.195 -3% Resources
IND Industrial Minerals 0.2 0.195 -3% Resources
LDR Lode Resources 0.2 0.195 -3% Resources
FAL Falcon Metals 0.5 0.485 -3% Resources
TBN Tamboran Resources 0.4 0.385 -4% Resources
LGL Lynch Group 3.6 3.44 -4% Industrial
ABE Aus Bond Exchange 0.65 0.62 -5% Financial
AII Almonty Industries 1 0.95 -5% Industrial
BMR Ballymore Resources 0.2 0.19 -5% Resources
DUN Dundas Minerals 0.2 0.19 -5% Resources
ITM Itech Minerals 0.2 0.19 -5% Resources
MMC Mitre Mining 0.2 0.19 -5% Resources
SLM Solis Minerals 0.2 0.19 -5% Resources
AVD Avada Group 1 0.945 -6% Tech
CPM Cooper Metals 0.2 0.185 -8% Resources
EMS Eastern Metals 0.2 0.185 -8% Resources
WMG Western Mines 0.2 0.185 -8% Resources
IPG IPD Group 1.2 1.105 -8% Resources
FOS FOS Capital 0.25 0.23 -8% Industrial
ALO Alloggio Group 0.2 0.18 -10% Consumer
ICL Iceni Gold 0.2 0.18 -10% Resources
OMX Orange Minerals 0.2 0.18 -10% Resources
RBX Resource Base 0.2 0.18 -10% Resources
ROC Rocketboots 0.2 0.18 -10% Tech
RON Ronin Resources 0.2 0.18 -10% Resources
MLG MLG 1 0.89 -11% Resources
IMI Infinity Mining 0.2 0.175 -13% Resources
GQG GQG Partners 2 1.74 -13% Financial
BGD Barton Gold 0.25 0.215 -14% Resources
AUE Aurum Resources 0.2 0.17 -15% Resources
C29 C29 Metals 0.2 0.17 -15% Resources
HVH Heavy Minerals 0.2 0.17 -15% Resources
TRN Torrens Mining 0.2 0.17 -15% Resources
W2V Way2VAT 0.2 0.17 -15% Tech
DRA DRA Global 3.95 3.35 -15% Industrial
AR1 Austral Resources 0.2 0.165 -18% Resources
CPO Culpeo Minerals 0.2 0.165 -18% Resources
KNB Koonenberry Gold 0.2 0.165 -18% Resources
NIS Nickelsearch 0.2 0.165 -18% Resources
REC Rechargemetals 0.2 0.165 -18% Resources
SB2 Salter Brothers 1 0.8 -20% Financial
NNG Nexion 0.2 0.16 -20% Tech
EBR EBR Systems 1.08 0.86 -20% Tech
LKY Locksley Resources 0.2 0.155 -23% Resources
POL Polymetals Resources 0.2 0.155 -23% Resources
LFS Latitude Group 2.6 1.98 -24% Financial
LDX Lumos Diagnostics 1.25 0.94 -25% Health
PPM Pepper Money 2.89 2.17 -25% Financial
BME Black Mountain Energy 0.2 0.15 -25% Resources
FG1 Flynn Gold 0.2 0.15 -25% Resources
HIQ HitIQ 0.2 0.15 -25% Tech
WGR Western Gold Resources 0.2 0.15 -25% Resources
X2M X2M Connect 0.25 0.185 -26% Tech
ATV Ativeport 0.2 0.145 -28% Tech
DMM DMC Mining 0.2 0.145 -28% Resources
KAL Kalgoorlie Mining 0.2 0.145 -28% Resources
MM1 Midas Minerals 0.2 0.145 -28% Resources
TVL Touch Ventures 0.4 0.29 -28% Tech
AMM Armada Metals 0.2 0.14 -30% Resources
DAL Dalaroo Metals 0.2 0.14 -30% Resources
HMG Hameling Gold 0.2 0.14 -30% Resources
OPN OpenNegotiation 0.2 0.14 -30% Tech
TG1 TechGen Metals 0.2 0.14 -30% Resources
CDR Codrus Minerals 0.2 0.135 -33% Resources
MTM Mt Monger Resources 0.2 0.135 -33% Resources
BTN Butn 0.5 0.335 -33% Tech
KED Keypath Education 3.71 2.42 -35% Tech
EPX EPT Global 0.2 0.13 -35% Tech
M2M Mt Malcolm Mines 0.2 0.13 -35% Resources
WC1 Westcobarmetals 0.2 0.13 -35% Resources
T3K Tek Ocean Group 0.5 0.32 -36% Industrial
RAD Radiopharm 0.6 0.38 -37% Health
BEX Bike Exchange 0.26 0.1625 -38% Tech
AW1 American West Metals 0.2 0.125 -38% Resources
KCC Kincora Copper 0.2 0.125 -38% Resources
GEN Genmin 0.34 0.21 -38% Resources
LRV Larvotto Resources 0.2 0.12 -40% Resources
OZZ Ozz Resources 0.2 0.12 -40% Resources
MFB My Food Bag 1.85 1.08 -42% Consumer
AUA Audeara 0.2 0.115 -43% Tech
NKL Nickelx 0.2 0.115 -43% Resources
GFN Gefen 1 0.555 -45% Tech
CU6 Clarity Pharmaceuticals 1.4 0.775 -45% Health
BIO Biome 0.2 0.11 -45% Consumer
DBO Diabloresources 0.2 0.11 -45% Resources
3MF 3D Metalforge 0.2 0.105 -48% Industrial
BEZ Besragoldinc 0.2 0.105 -48% Resources
OZM OzAurum Resources 0.25 0.13 -48% Resources
MKL Mighty Kingdom 0.3 0.155 -48% Tech
BDX BCAL Diagnostics 0.25 0.125 -50% Health
JNO Juno 0.25 0.125 -50% Resources
AGC Australian Gold & Copper 0.2 0.099 -51% Resources
TRP Tissue Repair 1.15 0.535 -53% Health
PHL Propell 0.2 0.09 -55% Tech
AWJ Auric Mining 0.25 0.096 -62% Resources
HMI Hiremii 0.2 0.048 -76% Tech
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The Best IPO sector

The best sector was energy which had an average gain of 73%, buoyed by listees in the uranium and battery tech sectors.

Most other sectors recorded gains, including health which was up 23%, and resources where the average float rose by 17%.

Tech IPOs however only gained 1%, and financials lost 7%.

Sector Companies Listed Av. % Gain Best IPO Worst IPO
Consumer 10 9% Best & Less (+81%) Biome (-50%)
Energy 4 73% 92 Energy (+197%) Delorean (+5%)
Financial 8 -7% Nobleoak (+17%) Pepper (-30%)
Health 13 23% Argenica (+280%) Tissue Repair (-57%)
Industrial 15 16% DGL (+169%) 3D Metalforge (-55%)
Property 2 9% HCW Reit (+18%) Newmark (0%)
Resources 105 17% Kuniko (+562%) Auric (-56%
Tech 32 1% Camplify (+156%) Hiremii (-67%
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Best performing ASX IPOs in 2020

The best IPO, with a 562% gain, was Kuniko (ASX:KNI) which holds the Norwegian base metals projects of Vulcan Energy (ASX:VUL).

It listed in July amidst a series of battery metals IPOs which all gained.

The second best IPO, having gained 280%, is biotech Argenica Therapeutics (ASX:AGN).

While some biotech IPOs in 2021 have flopped, Argenica has gone the other way after positive pre-clinical data and obtaining a US patent.

Sitting in third spot is Australian Rare Earths (ASX:AR3) which is up 213% since listing in July.

While there is no shortage of rare earths companies generally, its ‘Koppamurra’ project in South Australia and Victoria stands out, being an ionic clay hosted rare earth element deposit, which are considered to be cheaper and more readily accessible than other forms of rare earth deposits.

IPOs with gains between 100% and 200% include chemicals, logistics and waste management company DGL (ASX:DGL) and caravan sharing community Camplify (ASX:CHL).

Other notable new listees with gains include Best & Less (ASX:BST), Airtasker (ASX:ART) and Bluebet (ASX:BBT).

 

Worst performers

The company at the top of the “worst” list is HR tech stock Hiremii (ASX:HMI) which listed at 20 cents and now sits at 4.8 cents – a loss of over 75%.

Another big loser is medtech company Tissue Repair (ASX:TRP).

This company is focused on developing advanced wound healing technology and plans to commence Phase III clinical trials next year.

In resources, the worst IPO was goldie Auric Mining (ASX:AWJ). Initially, it rose after some exciting results in late March but its share price has been all downhill since then.