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.
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:
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: