Gold and base metals explorer Caprice Resources has followed the trend of soft floats on its first day of public life.

Just minutes after Caprice (ASX:CRS) rang the bell at 2pm AEDT on Wednesday, the stock sank to 19c — a 5.3 per cent discount to its IPO price.

By close of trade, the share price had recovered slightly to 19.5c.

Over 1.3 million shares worth about $257,470 changed hands in 66 trades.

The stock sunk as low as 18.5c and only reached as high as 20.5c.

The ASX has had a difficult two months and newly listed companies have not escaped it.

There have been 15 IPOs since the start of October and only four of these have gained ground since listing.

Of the resources players, gold, nickel and copper explorer Moho Resources is the biggest loser – wiping off almost 33 per cent since its debut in early November to sit at 13.5c on Wednesday.

Vanadium and oil shale play QEM has also taken a dive since it listed in late October. It has dipped 30 per cent to 14c.

QEM’s IPO was 50 per cent oversubscribed, but on making its debut, the stock immediately closed down 7.5 per cent.