IPO Watch - Resource explorers have been the main IPO winners recently. Picture Getty Images
IPO Watch: Metals and rare earth explorers light up the ASX IPO scene
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We’re halfway through the year, and there has already been 63 IPO listings so far.
| Code | Company | Listing Price | Current price | % | MktCap | Sector |
|---|---|---|---|---|---|---|
| TRU | Truscreen | 0.065 | 0.069 | 6 | $21.4M | Health |
| TRN | Torrens Mining | 0.2 | 0.265 | 33 | $16.4M | Resources |
| CHM | Chimeric Therapeutics | 0.2 | 0.31 | 55 | $57.1M | Health |
| FLX | Felix Group | 0.27 | -10 | $28.3M | Tech | |
| AGC | Australian Gold & Copper | 0.2 | 0.14 | -30 | $9.5M | Resources |
| 5GG | Pentanet | 0.25 | 0.685 | 174 | $137.0M | Tech |
| M24 | Mamba Exploration | 0.2 | 0.21 | 5 | $7.6M | Resources |
| OZM | OzAurum Resources | 0.25 | 0.12 | -52 | $6.0M | Resources |
| BEX | Bike Exchange | 0.26 | 0.235 | -10 | $32.0M | Tech |
| MFB | My Food Bag | 1.85 | 1.29 | -30 | $313M | Consumer |
| 3MF | 3D Metalforge | 0.2 | 0.17 | -15 | $15.4M | Industrial |
| EZZ | EZZ Life Science | 0.5 | 0.445 | -11 | $5.3M | Consumer |
| NNG | Nexion | 0.2 | 0.18 | -10 | $12.1M | Tech |
| SHG | Singular Health | 0.2 | 0.33 | 65 | $18.6M | Health |
| DDH | DDH Drill | 1.1 | 1.18 | 7 | $401.0M | Industrial |
| GEN | Genmin | 0.34 | 0.26 | -24 | $73.3M | Resources |
| BMO | Baston Minerals | 0.2 | 0.18 | -10 | $10.3M | Resources |
| AWJ | Auric Mining | 0.25 | 0.15 | -40 | $6.1M | Resources |
| MM8 | Medallion Metals | 0.2 | 0.245 | 23 | $19.8M | Resources |
| ART | Airtasker | 0.65 | 1.11 | 71 | $455.0M | Tech |
| MPA | Mad Paws | 0.2 | 0.17 | -15 | $32.3M | Tech |
| KCC | Kincora Copper | 0.2 | 0.24 | 20 | $16.7M | Resources |
| PGD | Peregrine Gold | 0.2 | 0.38 | 90 | $10.9M | Resources |
| LGL | Lynch Group | 3.6 | 3.61 | 1 | $444.0M | Industrial |
| TG1 | TechGen Metals | 0.2 | 0.19 | -5 | $7.3M | Resources |
| DEL | Delorean | 0.2 | 0.205 | 3 | $37.6M | Energy |
| ILA | Island Pharmaceuticals | 0.2 | 0.32 | 60 | $12.0M | Health |
| PHL | Propell | 0.2 | 0.16 | -20 | $8.6M | Tech |
| ICL | Iceni Gold | 0.2 | 0.195 | 2 | $21.6M | Resources |
| FRB | Firebird Meta | 0.2 | 0.61 | 205 | $21.8M | Resources |
| LFS | Latitude Group | 2.6 | 2.3 | -12 | $2.3B | Financial |
| PWR | Peter Warren | 2.9 | 3.63 | 25 | $620.0M | Consumer |
| MKL | Mighty Kingdom | 0.3 | 0.185 | -38 | $17.3M | Tech |
| MLG | MLG | 1 | 0.935 | -7 | $138.0M | Resources |
| BCA | Black Canyon | 0.2 | 0.28 | 40 | $7.6M | Resources |
| ALB | Albion Resources | 0.2 | 0.19 | -5 | $5.2M | Resources |
| QML | Qmines | 0.2 | 0.365 | 83 | $17.2M | Resources |
| GL1 | Global Lithium | 0.2 | 0.255 | 28 | $21.8M | Resources |
| NKL | Nickelx | 0.2 | 0.17 | -15 | $9.4M | Resources |
| HMI | Hiremii | 0.2 | 0.11 | -45 | $6.8M | Tech |
| EPX | EPT Global | 0.2 | 0.215 | 8 | $26.1M | Tech |
| A8G | Austalasian Gold | 0.2 | 0.145 | -28 | $4.8M | Resources |
| DGL | DGL Group | 1.21 | 1.29 | 7 | $329.0M | Industrial |
| PPM | Pepper Money | 2.89 | 2.67 | -8 | $1.2B | Financial |
| AUA | Audeara | 0.2 | 0.1 | -50 | $6.7M | Tech |
| JNO | Juno | 0.25 | 0.19 | -24 | $26.4M | Resources |
| ACL | Au Clinical Labs | 4 | 3.47 | -14 | $686.0M | Health |
| KED | Keypath Education | 3.71 | 3.7 | -1 | $770.0M | Tech |
| TRJ | Trajan | 1.7 | 2.29 | 35 | $297.0M | Health |
| FOS | FOS Capital | 0.25 | 0.195 | -22 | $2.5M | Industrial |
| AGN | Argenica Theraprutics | 0.2 | 0.2 | 0 | $9.2M | Health |
| SB2 | Salter Brothers | 1 | 1 | 0 | $90.6M | Financial |
| LM8 | Lunnon Metals | 0.3 | 0.45 | 50 | $34.8M | Resources |
| HIQ | HitIQ | 0.2 | 0.19 | -5 | $21.5M | Tech |
| FG1 | Flynn Gold | 0.2 | 0.155 | -22 | $9.0M | Resources |
| CDR | Codrus Minerals | 0.2 | 0.205 | 3 | $8.0M | Resources |
| AM7 | Arcadia Minerals | 0.2 | 0.19 | -5 | $6.3M | Resources |
| BGD | Barton Gold | 0.25 | 0.2 | -20 | $17.2M | Resources |
| WAR | WAM Strategic Value | 1.25 | 1.3 | 4 | $230.0M | Financial |
| CHL | Campify | 1.42 | 1.33 | -4 | $35.6M | Tech |
| POL | Polymetals Resources | 0.2 | 0.15 | -25 | $5.6M | Resources |
| AR3 | Aust Rare | 0.3 | 0.545 | 82 | $13.4M | Resources |
| PEX | Pexa | 17.13 | 16.66 | -3 | $3.0B | Tech |
On Thursday, we saw the much anticipated but a relatively disappointing spin-off listing of mortgage settlement company, Pexa (ASX:PXA).
The $3 billion market cap company entered the bourse at 1pm on Thursday, and closed at $17.15 vs its $17.13 IPO price.
Pexa was demerged from its parent Link Administrations (ASX:LNK), which still owns a 43 per cent stake, with another 24 per cent owned by the Commonwealth Bank (ASX:CBA).
Pexa has an 80 per cent grip on property transaction settlements across Australia.
The biggest recent winner however, was that of Australian Rare Earths (ASX:AR3), which also listed on Thursday and immediately rose by more than 80 per cent.
With a $13.5 million market cap, AR3 owns the Koppamurra project in South Australia which, according to the company, is Australia’s largest ionic clay hosted rare earth element (REE) deposit, and one of only two exchange-listed opportunities globally – the other belonging to Uganda-based Ionic Rare Earths (ASX:IXR).
Nickel explorer, Lunnon Metals (ASX:LM8), was another strong new performer on the bourse, with its share price rising by 50 per cent since floating two weeks ago.
Lunnon raised $15 million at 30c a share to fund a major drilling initiative at the long-shut Foster and Jan nickel mines in Kambalda.
The company is taking advantage of a rebound in nickel, which has risen significantly since 2016 along with the growing enthusiasm about the commodity’s value as a major product in the lithium-ion batteries that underpin electric vehicles.
Trajan Group (ASX:TRJ) made its successful listing in early June, with the share price now up 35 per cent on the IPO price.
The John Eales-chaired company, which was started by a husband and wife team over a kitchen table 10 years ago, designs and manufactures a portfolio of precision consumable products, devices and solutions.
Trajan raised $90 million in the IPO at a price of $1.70 a share, for a $220m market cap.
Best performing IPOs in 2021
The two best performing IPOs in 2021 have been Firebird Metals(ASX:FRB) and Pentanet (ASX:5GG).
Firebird’s share price has more than tripled since its IPO back in March.
The company is a manganese explorer that was spun off from parent Firefly Resources (ASX:FFR).
It owns the Oakover and Hill 616 projects in the Pilbara regions well known for their manganese deposits.
Pentanet meanwhile, has risen by 175 per cent since making its ASX debut back in January.
Despite its ticker code, the company is not involved in rolling out a 5G network in Australia.
Instead, the business revolves around fixed work connections, with gaming like GeForce NOW being used to create awareness and attract customers to its network.
Notable upcoming listings
| Code | Company | Listing price | Capital raised | Listing Date | Sector |
|---|---|---|---|---|---|
| NXG | Nex Gen Energy | 5.6 | $2.24M | 2-Jul | Energy |
| BBT | Bluebet | 1.4 | $80M | 2-Jul | Consumer |
| LDR | Lode Resources | 0.2 | $7.5M | 2-Jul | Resources |
| TBN | Tamboran Resources | 0.4 | $66M | 2-Jul | Resources |
| 29M | 29Metals | 2 | $900M | 2-Jul | Resources |
In the biggest ASX mining IPO in more than a decade, 29Metals (ASX:29M) is set to list today.
The company is owned by private investment firm EMR Capital, which has raised $528 million to fund 29M’s copper projects including Golden Grove and Capricorn copper mines in Australia, as well as Redhill in Chile.
The listing is strategically timed to take advantage of copper metal’s soaring price.
Read MoreInitial Public Offering - IPO
