The resources floats are getting fewer and further between as 2019 progresses and the tech teams are now the ones racing to ring the ASX bell.

Investors are not loving the newly minted resources players right now, with more than 68 per cent of companies that have listed in the past year losing ground.

Just three of the 22 recent resources listings have made gains, and three are back trading at their IPO issue price.

Then there’s West Australia-focused gold explorer Coolgardie Minerals (ASX:CM1), which couldn’t even make it a year as an ASX-listed company before going into administration.

Here’s a list of IPO performances over the past year:

Swipe or scroll for full table

Listing Date ASX Code Company IPO Price Intra-Day Price April 23 Percentage Change
01/29/2019 SPT Splitit Payments 0.2 1.095 4.475
09/21/2018 AGH Althea Group Holdings 0.2 0.5 1.5
12/28/2018 AMS Atomos 0.41 0.935 1.28048780488
12/18/2018 EX1 Exopharm 0.2 0.45 1.25
03/29/2019 EOF Ecofibre 1 2.26 1.26
02/13/2019 UWL Uniti Wireless 0.25 0.525 1.1
10/15/2018 SMX Security Matters 0.2 0.41 1.05
02/22/2019 MPH Mediland Pharm 0.2 0.35 0.75
07/18/2018 KTD Keytone Dairy Corp 0.2 0.345 0.725
12/13/2018 EMV EMvision Medical Devices 0.25 0.39 0.56
05/16/2018 S66 Star Combo Pharma 0.5 0.73 0.46
05/29/2018 PYG PayGroup 0.5 0.68 0.36
04/18/2019 NXS Next Science 1 1.66 0.66
07/20/2018 CXL Calix 0.53 0.725 0.367924528302
08/20/2018 NIC Nickel Mines 0.35 0.4475 0.278571428571
05/25/2018 CPV Clearvue Technologies 0.2 0.24 0.2
07/30/2018 CR1 Constellation Resources 0.2 0.235 0.175
04/17/2019 RDY Readytech Holdings 1.51 1.76 0.165562913907
08/15/2018 TMR Tempus Resources 0.2 0.22 0.1
12/12/2018 HMD HeraMED 0.2 0.22 0.1
03/07/2019 CBY Canterbury Resources 0.3 0.31 0.0333333333333
12/05/2018 CRS Caprice Resources 0.2 0.2 0
12/14/2018 YRL Yandal Resources 0.2 0.2 0
02/14/2019 A1G African Gold 0.2 0.2 0
07/09/2018 PGX Primero Group 0.4 0.39 -0.025
11/30/2018 RDC Redcape Hotel Group 1.13 1.065 -0.0575221238938
12/13/2018 TYM Tymlez Group 0.22 0.2 -0.0909090909091
07/13/2018 VEA Viva Energy Group 2.5 2.405 -0.038
09/11/2018 HLA Healthia 1 0.9 -0.1
11/29/2018 NWM Norwest Minerals 0.2 0.18 -0.1
06/22/2018 WGB WAM Global 2.2 1.91 -0.131818181818
09/12/2018 14D 1414 Degrees 0.35 0.305 -0.128571428571
07/05/2018 RMY RMA Global 0.25 0.2 -0.2
05/30/2018 KRX Koppar Resources 0.2 0.16 -0.2
07/06/2018 WOA Wide Open Agriculture 0.2 0.16 -0.2
07/27/2018 NSB NeuroScientific Biopharmaceuticals 0.2 0.16 -0.2
10/17/2018 ID8 Identitii 0.75 0.56 -0.253333333333
09/17/2018 VEN Vintage Energy 0.2 0.15 -0.25
10/23/2018 CRN Coronado Global Resources 4 2.92 -0.27
08/24/2018 KWR Kingwest Resources 0.2 0.155 -0.225
05/29/2018 GAL Galileo Mining 0.2 0.125 -0.375
10/31/2018 WWG Wiseway Group 0.5 0.335 -0.33
09/21/2018 AR9 Archtis 0.2 0.12 -0.4
05/14/2018 ED1 Evans Dixon 2.5 1.6 -0.36
09/13/2018 ARN Aldoro Resources 0.2 0.12 -0.4
02/19/2019 CLB Candy Club Holdings 0.2 0.12 -0.4
06/13/2018 VN8 Vonex 0.2 0.105 -0.475
10/02/2018 SGI Stealth Global Holdings 0.2 0.1 -0.5
10/19/2018 QEM QEM 0.2 0.1 -0.5
11/07/2018 MOH Moho Resources 0.2 0.09 -0.55
11/08/2018 GSM Golden State Mining 0.2 0.088 -0.56
11/30/2018 NVU Nanoveu 0.2 0.081 -0.595
12/20/2018 FIJ Fiji Kava 0.2 0.081 -0.595
08/16/2018 SLZ Sultan Resources 0.2 0.056 -0.72
07/26/2018 RFR Rafaella Resources 0.2 0.07 -0.65
06/19/2018 B2Y Bounty Mining 0.35 0.11 -0.685714285714
06/21/2018 RZI Raiz Invest 1.8 0.53 -0.705555555556
04/27/2018 SIL Smiles Inclusive 1 0.165 -0.835
08/30/2018 CM1 Coolgardie Minerals* 0.2 0.052 -0.74

*Administrators appointed to Coolgardie Minerals on February 28.

So it’s probably not surprising that there are only three resources players that have launched IPOs that are still trying to make it onto the ASX — and they are all in gold.

The trend seems to be geared towards small cap tech stocks.

And it’s the most evident in the buy now, pay later space.

Splitit (ASX: SPT) has been the most closely watched stock since it lit up the boards on January 29 this year.

The IPO came on the back of a strong year for competitors Afterpay (ASX: APT) and ZipCo (ASX: Z1P), which both posted strong gains in 2018.

And the platforms stayed front and centre into the new year, ahead of a Senate committee review on the sector at the end of February.

The committee was formed in response to community concerns that buy now, pay later platforms constitute a form of predatory lending.

But critically, lawmakers stopped short of a ruling that would’ve forced companies in the space to implement stricter credit checks — similar to the standards imposed on a bank.

Splitit has been the greatest beneficiary of this sector growth and the positive Senate outcome — hitting an all-time intraday high of $2 a share on March 11, making it a 10-bagger in just under a month and a half.

It is still up nearly 450 per cent at $1.10.

>>Read: Here’s what really drove the surge in demand for Splitit that underpinned its meteoric early rise

Atomos (ASX:AMS), which makes and sells camera add-ons for amateur Instagrammers and professional photographers, has also done pretty well for itself, gaining 128 per cent since listing at the end of 2018.

It is trading around 94c at the moment.

Brand protection, supply chain integrity and blockchain tech company Security Matters (ASX:SMX) has more than doubled its share price to 41c.

The tech space is pretty vast, ranging from software and website development right through to hardware and social networking, according to Dean Fergie, director & portfolio manager at Cyan Investment Management.

“I guess the whole sector is just rife with entrepreneurs that are looking to try and do the next big thing,” he told Stockhead.

“The beauty in I suppose the Australian market is it’s so broad that if you want to be looking at online security or recruitment or online textbooks or whatever, you can do all that in the small cap market of Australia.”

>>Read more about Dean Fergie’s thoughts on the tech space here

 

More tech players joining the ASX race?

Life360 (ASX:360) has recently launched its IPO.

The company’s flagship product is a smartphone app that provides families with information like where their loved ones are, details on their driving performance and even how close they might be to a potential crime.

The San Francisco-based company operates what is called a “freemium” model, which means users can subscribe for free but have to pay to unlock premium subscription options.

Life360 is aiming to raise $145.43m by issuing CHESS Depository interests (CDIs) priced at $4.79 each.

CDIs are a proxy for trading foreign shares on the ASX.

If Life360 is successful, the company will have a market value of nearly $820m on listing – which is slated for May 17.

Powerwrap (ASX:PWL) is also planning its debut, which is penned in for May 23.

The company has developed a tech-based platform that helps wealth advisors manage their clients’ investment portfolios.

Powerwrap is hoping to raise $17.4m by selling shares at 35c each.

Also eventually said to be launching an IPO in September this year is artificial intelligence start-up MyWave.

The AFR reported last week that the company, which was founded by National Australia Bank director Geraldine McBride, had raised $3m in seed funding.

MyWave takes customer data from big energy companies, banks and insurers and applies artificial intelligence to provide more personalised experiences for customers.

It can help with things like savings or determining the best energy or insurance plan for a customer.

Here’s a list of upcoming floats:

Swipe or scroll for full table

Company ASX code IPO status Focus Fund raising Issue price
AltoStratos ATO Withdrawn Supply chain delivery technology $16-$25m 40c
Australian Family Lawyers AFL Offer closes April 29; Listing set for May 10 Law firm $4-$6.5m 20c
Australian Industrial Minerals AAM Withdrawn Industrial minerals $5m 25c
Australian Nutrition & Sports AN1 Was due to list Apr 3; ASIC has issued an interim stop notice Dairy formula $5-$8m 20c
AXS Group AXS Offer date extended to April 19; Listing date extended to April 26 Software provider to the finance, insurance and funds sector $7m 25c
Carnaby Resources - Prospectus not yet issued; Considering listing in 2019 Gold - -
Expose Resources EXX Listing date extended to April 10 Gold $4.5m 20c
Frugl Pre-IPO funding; planning listing Grocery price comparison - -
Gold Tiger Resources GRA Offer closing May 10; Listing planned for May 22 Gold $4-$5m 20c
irexchange IRX Withdrawn Retail tech $17.5m 90c
Jobstore Group JOB Was due to list Dec 5 AI-powered recruitment $6.6-8m 20c
Koligo Therapeutics KOL Closing date extended to April 23; Listing date extended to May 7 Regenerative medicine $6-$7m 20c
Life360 360 Offer due to close May 8; Listing penned in for May 17 Location-based services applications $145.43m $4.79
Melior Resources Seeking ASX-listing in 2019 Mineral sands $5m
Mont Royal Resources MRZ Listing set for May 15 Gold $5m 20c
Powerwrap PWL Offer closes May 3; Due to list May 23 Investment software platform $17.4m 35c
Rolek Resources RLK Backdoor listing cancelled Manganese $5m 2c
Trigg Mining TMG Postponed until 2019 Potash -

 

At Stockhead, we tell it like it is. While Security Matters is a Stockhead advertiser, it did not sponsor this article.