IPO Watch: Market selloff weighs on ASX debutantes

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The first two months of 2020 gave rise to some up and down results for the nine companies that joined the ASX boards in the new year.

But there’s no doubt the newly listed cohort wasn’t immune to the the coronavirus-related carnage of the past two weeks.

Stockhead’s latest set of data shows just two companies are still in positive territory; software platform COSOL (ASX:COS) and gold explorer Kaiser Reef (ASX:KAU).

Six other stocks fell sharply negative compared to their initial listing price. And base metals explorer Cobre (ASX:CBE) is now even on the year, after jumping sharply when it first listed on January 31.

As a general rule, new listings come with an added layer of risk (and reward), and it’s perhaps not a surprise that demand has waned during what has turned out to be the sharpest ASX correction since the 2008 financial crisis.

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

LISTING DATE	TICKER	NAME	OFFER SIZE	OFFER PRICE	PRICE (10 MARCH)	% RETURN
16/1/2020	NYR	Nyrada	9m	0.2	0.15	-25%
23/1/2020	HVM	Happy Valley Nutrition	13m	0.2	0.15	-25%
24/1/2020	COS	COSOL	12m	0.2	0.31	55%
31/1/2020	CBE	Cobre	10m	0.2	0.2	0%
12/2/2020	EMD	Emerald Clinics	6m	0.2	0.088	-56%
14/2/2020	TDY	Thedocyard	4m	0.2	0.14	-30%
14/2/2020	CST	Castille Resources	20m	0.2	0.1	-50%
20/2/2020	LGP	Little Green Pharma	10m	0.45	0.3	-33%
27/2/2020	KAU	Kaiser Reef	9m	0.2	0.255	28%

UPCOMING IPOs

The historic level of market volatility has made the pipeline for new listings somewhat uncertain.

However, the ASX still has a number of companies on the “pending” list with plans to tap the public markets over the next few weeks.

Here’s a list of upcoming IPOs:

TICKER	NAME	OFFER SIZE ($)	OFFER PRICE	LISTING DATE
AL3	AML3D	9m	0.2	26 March
AR1	ARMnet	11m	0.2	TBA
AT1	Atomo Diagnostics	$30m	0.2	16 April
MHK	Metal Hawk	$5.5m	0.2	TBA
TNA	Tartana Resources	$6m	0.2	TBA
W2V	Way 2 Vat	$15m	0.2	27 March