Australia’s dealmakers are staying busy as the end of the year approaches, with three more companies joining the ASX boards so far in November.

That brings the total number of IPOs in 2019 to 45, with another 16 still in the pipeline at the time of publishing.

Among the more high-profile November listings was Cronos Australia (ASX:CAU), the pot stock which listed publicly in the midst of a cannabis bear market.

It’s been a less than auspicious start for Cronos, which forms the Australian arm of a joint venture with NASDAQ-listed cannabinoid company Cronos Group.

The stock fell by 30 per cent on day one after raising $20m from investors at 50c a share. At the time of publishing, Cronos Australia shares were trading at 26c — a 42 per cent decline from the offer price.

Speaking with Stockhead last week, Cronos CEO Rodney Cocks said the company wasn’t phased by intra-day trading in the early going and remained committed to its asset-light strategy as it sought distribution partnerships in the Asia-Pacific region.

Property group Primewest (ASX:PWG) had a steadier start to listing, up 16 per cent since raising $100m at $1 per share on November 8.

The company counts John Bond, son of former business tycoon Alan Bond, as a major shareholder, and its shift to the public markets is part of a strategy to move beyond its Perth-centric property portfolio.

Across the board, the 44 companies to list on the ASX so far in 2019 have generated a robust average return of 55 per cent from their initial listing date.

Those gains have been driven by 31 winners, while just 13 companies are in negative territory for the year.

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

Scroll or swipe to reveal table. Click headings to sort

Listed date ASX Code Company Funds raised ($M) IPO Price Price Nov 19 % change
13/02/2019 UWL Uniti Group Ltd 13.1811 0.25 1.705 624%
23/09/2019 OSX Osteopore Ltd 5.25 0.2 0.87 310%
29/01/2019 SPT Splitit Payments Ltd 12 0.2 0.785 285%
29/03/2019 EOF Ecofibre Ltd 20 1 3.55 253%
7/06/2019 VVA Viva Leisure Ltd 20 1 2.86 183%
18/04/2019 NXS Next Science Ltd 35 1 2.49 164%
21/06/2019 VGI VGI Partners Ltd 75.0002 5.5 14.25 159%
22/08/2019 OPC OptiComm Ltd 42.3518 2 4.25 113%
12/06/2019 PBH PointsBet Holdings Pty Ltd 75 2 4.08 106%
11/07/2019 QFE QuickFee Ltd 13.5 0.2 0.39 98%
5/07/2019 IXC Invex Therapeutics Ltd 12 0.4 0.775 90%
30/07/2019 SZL Sezzle Inc 43.5714 1.22 2.33 89%
27/08/2019 APV Appsvillage stralia Ltd 5 0.2 0.3825 68%
22/02/2019 MPH Mediland Pharm Ltd 12.5527 0.2 0.3 50%
30/08/2019 IMR Imricor Medical Systems Inc 13 0.83 1.12 40%
7/05/2019 MRZ Mont Royal Resources Ltd 5 0.2 0.24 22%
16/10/2019 DTC Damstra Holdings Pty Ltd 49.3215 0.9 1.095 21%
30/04/2019 PE1 Pengana Private Equity Trust 157.371 1.25 1.475 20%
17/04/2019 RDY ReadyTech Holdings Ltd 50 1.51 1.765 19%
14/10/2019 HMC Home Consortium 325 3.35 3.89 16%
14/06/2019 VOL Victory Offices Ltd 30 2 2.3 16%
8/11/2019 PWG Primewest Group Ltd 100 1 1.16 16%
28/05/2019 IAP Investec Australia Property Fund 101.538 1.32 1.51 16%
17/06/2019 RF1 Regal Investment Fund 281.778 2.5 2.77 12%
1/10/2019 MAD Mader Group Ltd 50 1 1.075 9%
11/10/2019 MHH Magellan High Conviction Trust 861.814 1.5 1.64 8%
19/06/2019 WSP Whispir Ltd 47 1.6 1.66 5%
6/06/2019 RLT Renergen Ltd 10 0.8 0.82 4%
29/04/2019 MOT MCP Income Opportunities Trust 300 2 2.05 2%
14/05/2019 PCI Perpetual Credit Income Trust 440 1.1 1.13 2%
26/09/2019 PGG Partners Group Global Income Fund 550 2 2.02 1%
13/11/2019 VG8 VGI Partners Asian Investments 556.55 2.5 2.32 -6%
31/10/2019 TDI 360 Capital Digital Infrastruc 65 2 1.83 -9%
24/05/2019 TIP Teaminvest Private Group Ltd 3.9698 1 0.85 -15%
6/06/2019 PKS PKS Holdings Ltd 16.13 0.2 0.175 -15%
7/03/2019 CBY Canterbury Resources Ltd 6.1472 0.3 0.23 -23%
14/02/2019 A1G African Gold Ltd 4.5 0.2 0.185 -25%
11/06/2019 PGL Prospa Group Ltd 109.756 3.78 2.73 -26%
14/06/2019 2BE Tubi Pty Ltd 5.76 0.2 0.13 -35%
10/05/2019 360 Life360 Inc 145.428 4.79 3.18 -35%
23/05/2019 PWL Powerwrap Ltd 17.4319 0.35 0.195 -41%
7/11/2019 CAU Cronos Australia Ltd 20 0.5 0.26 -42%
3/10/2019 TMG Trigg Mining Ltd 4.5 0.2 0.091 -53%
19/2/2019 CLB Candy Club Holdings Ltd 5.024 0.2 0.061 -70%

Looking ahead

On the pending list, no less than 16 companies have announced plans to list publicly in the coming weeks.

Among them is Amaero International, which will be the latest 3D-printing company in the industrial tech space to seek capital from Australia’s public markets.

Founded in 2013 and borne out of a Monash University research program, Amaero has patents pending to licence two new “super” materials — a high-strength titanium alloy and a new aluminium-scandium alloy.

Its client base includes Raytheon and Boeing, and the company specialises in additive manufacturing techniques for the defence and aerospace sectors. Pre-IPO, Amaero has closed an oversubscribed funding round of $8m from institutional investors, on a pre-money valuation of $23.2m.

Here’s a list of upcoming IPOs:

Scroll or swipe to reveal table. Click headings to sort

Company ASX Code Expected listing date Industry Issue price Fund raising
KKR Credit Income Fund KKC 21 November 2019 Listed investment trusts $2.50 $330m
Elanor Commercial Property Fund ECF 6 December 2019 Commercial real estate $1.25 $173m
Carbon Revolution Limited CBR 29 November 2019 Carbon fibre wheels $2.60 $90m
Aerometrex Limited AMX 10 December 2019 Aerial mapping $1.00 $25m
Terragen Holdings Limited TRG 11 December 2019 Agricultural biotech $0.25 $25m
M8 Sustainable Limited M8S 12 December 2019 Waste management $0.20 $19.5m
Happy Valley Nutrition Ltd HML TBA Milk formula and nutrition $0.20 $15m
Nicheliving Holdings NLH TBA Residential developer $0.50 $12m
Godolphin Resources Limited GRL 20 December 2019 Gold and base metals $0.20 $8m
OpenLearning Limited OLL 6 December 2019 Online learning platform $0.20 $8m
Amaero International Ltd 3DA 25 November 2019 Additive manufacturing $0.20 $8m
Macarthur Minerals Limited MIO 6 December 2019 Iron ore, gold and lithium exploration $0.25 $7.5m
Tartana Resources Limited TNA TBA Mining exploration $0.20 $6m
Nemex Resources Limited NXR TBA Mineral exploration $0.20 $5m
Metal Hawk Limited MHK 12 December 2019 Gold and nickel exploration $0.20 $5.5m
Virgo Resources Ltd VIR 20 December 2019 Copper and gold exploration $0.20 $5.5m